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Annual inflation rate increases to 4.4%

18/11/2021 13:08

The annual inflation rate in Cyprus was at 4.4% in October, a little above the euro area’s average (4.1%) and on the same level as the EU average, according to figures published by Eurostat, the statistical office of the European Union.

In October, the inflation rate in Cyprus increased compared to 3.6% in September, and to -1.4% in October last year.
Compared with September, annual inflation rose in all twenty-seven Member States.
In the euro area, annual inflation rate was 4.1% in October 2021, up from 3.4% in September. A year earlier, the rate was -0.3%.
In the EU, annual inflation was 4.4% in October 2021, up from 3.6% in September. A year earlier, the rate was 0.3%.
The lowest annual rates were registered in Malta (1.4%), Portugal (1.8%), Finland and Greece (both 2.8%).
The highest annual rates were recorded in Lithuania (8.2%), Estonia (6.8%) and Hungary (6.6%).
In October, the highest contribution to the annual euro area inflation rate came from energy (2.21 percentage points increase), followed by services (0.86 percentage points increase), non-energy industrial goods (0.55 percentage points increase) and food, alcohol & tobacco (+0.43 percentage points increase).