According to recent figures published by Eurostat, the statistical office of the European Union, inflation in Cyprus was down in November to -0.8% (-0.5% in October) while in Greece it was -2.9% (-1.9% in October). Euro area annual inflation was 0.9% in November 2013 up from 0.7% in October. A year earlier the rate was 2.2%. Monthly inflation was -0.1% in November 2013. European Union annual inflation was 1.0% in November 2013 up from 0.9% in October. A year earlier the rate was 2.4%. Monthly inflation was -0.1% in November 2013.

In November 2013, the lowest annual rates were observed in Greece (-2.9%), Bulgaria (-1.0%) and Cyprus (-0.8%) and the highest in Estonia (2.1%), Finland (1.8%) and Germany (1.6%). Compared with October 2013, annual inflation fell in eleven Member States, remained stable in three and rose in thirteen. The lowest 12-month average rates up to November 2013 were registered in Greece (-0.7%), Latvia (0.2%) and Sweden (0.5%), and the highest in Romania (3.5%), Estonia (3.4%), Croatia and the Netherlands (both 2.7%).

Source: Financial Mirror