19/04/2023 13:19
The annual inflation rate in Cyprus was 6.1% in March 2023, down from 6.7 in February, according to data published by Eurostat, the statistical office of the European Union. Meanwhile, the euro area annual inflation rate dropped from 8.5% to 6.9%, while European Union annual inflation dropped from 9.9% to 8.3%.
A year earlier, in March 2022, the annual inflation rate was 6.2% in Cyprus, 7.4% in the eurozone and 7.8% in the EU.
The lowest annual rates were registered in Luxembourg (2.9%), Spain (3.1%) and the Netherlands (4.5%).
The highest annual rates were recorded in Hungary (25.6%), Latvia (17.2%) and Czechia (16.5%).
Compared with February, annual inflation fell in twenty-five Member States and rose in two.
In March, the highest contribution to the annual euro area inflation rate came from food, alcohol & tobacco (+3.12 percentage points, pp), followed by services (+2.10 pp), non-energy industrial goods (+1.71 pp) and energy (-0.05 pp).