The annual inflation rate in Cyprus stood at 1.9% in December 2023, down from 2.4% in November, while a year earlier, in December 2022, it stood at 7.6%, according to the latest figures released by Eurostat, the statistical office of the European Union.
The eurozone annual inflation rate was 2.9% in December 2023, up from 2.4% in November. A year earlier, the rate was 9.2%.
European Union annual inflation was 3.4% in December 2023, up from 3.1% in November. A year earlier, the rate was 10.4%.
The lowest annual rates on the member state level were registered in Denmark (0.4%), Italy and Belgium (both 0.5%).
The highest annual rates were recorded in Czechia (7.6%), Romania (7.0%) and Slovakia (6.6%).
Compared with November, annual inflation fell in fifteen member states (including Cyprus), remained stable in one and rose in eleven.
In December, the highest contribution to the annual euro area inflation rate came from services (+1.74 percentage points, pp), followed by food, alcohol and tobacco (+1.21 p
p), non-energy industrial goods (+0.66 pp) and energy (-0.68 pp).
Source: Cyprus News Agency