Inflation expected at -1.3% for Cyprus

In May 2020, a month still marked with COVID-19 containment measures, euro area annual inflation is expected to be 0.1%, down from 0.3% in April according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in May (3.3%, compared with 3.6% in April), followed by services (1.3%, compared with 1.2% in April), non-energy industrial goods (0.2%, compared with 0.3% in April) and energy (-12.0%, compared with -9.7% in April).

In Cyprus inflation further drops from  -1.2% in April to -1.3%  in May. In Greece inflation was -0.9% in April and will increase to -0.7% in May.