SLOWDOWN: Eurozone and Cyprus inflation falls to 5-year low

The annual harmonized inflation in September, recorded a significant decline in Cyprus and in the eurozone where it hit the lowest rate recorded since October 2009.
According to data released by Eurostat, the September inflation in Cyprus stood at 0.0% from 0.8% in August
Inflation in the eurozone stood at 0.3% (0.4% in August), while a year earlier it was 1.1%. European Union inflation was 0.4% in September 2014, down from 0.5% in August.
The EU countries with the lowest rates were Bulgaria (-1.4%), Greece (-1.1%), Hungary (-0.5%),Spain (-0.3%), Poland (-0.2%), Italy, Slovenia and Slovakia (all -0.1%). The highest annual rates were recorded in Romania (1.8%), Finland (1.5%) and Austria (1.4%).
The largest upward impact on the euro area annual inflation came from restaurants and cafés (+0.09 percentage points), rents (+0.07pp) and maintenance of vehicles (+0.05pp), while fuels for transport (-0.21pp), telecommunications (-0.12pp) and gas (-0.08pp) had the biggest downward impacts
The annual inflation rate recorded in September in the eurozone countries was as follows: Greece -1.1%, Spain -0.3% , Slovakia -0.1%, Italy -0.2%, Slovenia -0.1% , Cyprus 0.0%, Portugal 0.0% Belgium +0.2%, Estonia + 0.2%, Netherlands+ 0.2%, Luxembourg + 0.3%, France + 0.4% , Ireland + 0.5%, Malta +0.6%, Germany +0.8%, Latvia +1.2%, Austria + 1.4%, Finland + 1.5%.