ECONOMY: At 1.1% Cyprus has one of the lowest annual inflation rates in EU

Hovering at 1.1%, Cyprus registered one of the lowest annual inflation rates in Europe during March, according to Eurostat.

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Inflation in Cyprus in March 2019 increased to 1.1% from 0.8% in February and it was -0.4% in March 2018.

Inflation in Greece increased to 1.0% form 0.8% the month before and 0.2 a year earlier.

Euro area annual inflation rate was 1.4% in March, down from 1.5% in February. A year earlier, the rate was 1.4%. European Union annual inflation was 1.6% in March 2019, stable compared to February.

A year earlier, the rate was 1.6%.

The lowest annual rates were registered in Portugal (0.8%) Greece (1.0%) and Cyprus, Ireland, Finland, Croatia, Italy (all at 1.1%).

The highest annual rates were recorded in Romania (4.2%), Hungary (3.8%) and the Netherlands (2.9%). Compared with February 2019, annual inflation fell in six Member States, remained stable in two and rose in 19.

In March, the highest contribution to the annual euro area inflation rate came from energy (+0.52 percentage points), followed by services (+0.51 pp), food, alcohol & tobacco (+0.34 pp) and non-energy industrial goods (+0.04 pp).