Inflation remains negative in Cyprus

Inflation remains negative in Cyprus for February 2018 at -0.4%, for the third consecutive month (after -1.5% in January 2018 and -0.4% in December 2017), according to Eurostat, the statistical office of the European Union. That was the lowest rate registered for February (Cyprus -0.4%), followed by Greece (0.4%), Denmark and Italy (both at 0.5%). The highest annual rates were recorded in Romania (3.8%), Estonia and Lithuania (both 3.2%).

Meanwhile in the euro area annual inflation rate was 1.1% in February 2018, down from 1.3% in January. In February 2017, the rate was 2.0%. European Union annual inflation was 1.3% in February 2018, down from 1.6% in January. A year earlier the rate was 2.0%.

Compared with January, annual inflation fell in eighteen Member States, remained stable in two and rose in seven. In February 2018, the highest contribution to the annual euro area inflation rate came from services (+0.57 percentage point), followed by food, alcohol & tobacco and energy (+0.21 pp each), and non-energy industrial goods (+0.14 pp).