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Inflation expected to drop in January in Cyprus

02/02/2023 09:54

Euro area annual inflation is expected to be 8.5% in January 2023, down from 9.2% in December according to a flash estimate from Eurostat, the statistical office of the European Union.

Annual inflation in Cyprus is expected to fall to 6.8%, compared to 7.6% in December 2022.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in January (17.2%, compared with 25.5% in December), followed by food, alcohol and tobacco (14.1%, compared with 13.8% in December), non-energy industrial goods (6.9%, compared with 6.4% in December) and services (4.2%, compared with 4.4% in December).