Inflation falls to 0.1%

The euro area annual inflation rate was 1.0% in July 2019, down from 1.3% in June, according to figures released today by Eurostat, the statistical office of the European Union. A year earlier, the rate was 2.2%. European Union annual inflation was 1.4% in July 2019, down from 1.6% in June. A year earlier, the rate was 2.2%.

For Cyprus inflation decreased to 0.1% in July 2019, down from 0.3% in June 2019 and 1.4% in June 2018. In Greece the rate has risen from 0.2% in June to 0.4% in July 2019, while a year erlier it was 0.8%.

According to Eurostat, the lowest annual rates were registered in Portugal (-0.7%), Cyprus (0.1%) and Italy (0.3%). The highest annual rates were recorded in Romania (4.1%), Hungary (3.3%), Latvia and Slovakia (both 3.0%). Compared with June, annual inflation fell in fifteen Member States, remained stable in two and rose in eleven.

In July, the highest contribution to the annual euro area inflation rate came from services (+0.53 percentage points, pp), followed by food, alcohol & tobacco (+0.37 pp), non-energy industrial goods (+0.08 pp) and energy (+0.05 pp).