Cyprus year-end inflation 13th highest in Europe

Comparative data on harmonised consumer price inflation (HICP) rates in the European Union show that Cyprus’s year-end inflation (December 2007/December 2006) was the 13th highest in Europe, at 3.7%.

In other words, Cyprus was about half way between Latvia, which was the highest at a year-end inflation rate of 14%, and the Netherlands, which was the lowest at 1.4%.

Nevertheless, the HICP rate for Cyprus was still rather higher than the European average, where the average HICP rate for the EU27 (minus Ireland, which was unavailable) was 3.2%.

For the period January- December 2007, the HICP increased by 2.2% recording the same rate of inflation as the corresponding period of 2006.