Inflation in Cyprus up to -0.4% in July 2016

Inflation in Cyprus raised to -0.4% in July 2016 up from -2.0% in June, one of twelve Member States with negative rates, while a year earlier the rate was -2.4%.

Meanwhile euro area annual inflation was 0.2% in July 2016, up from 0.1% in June.

In July 2015 the rate was 0.2%. European Union annual inflation was also 0.2% in July 2016, up from 0.1% in June. A year earlier the rate was 0.2%. Compared with June 2016, annual inflation fell in nine Member States, remained stable in seven and rose in twelve.

The lowest annual rates were registered in Bulgaria and Croatia (both -1.1%) and Slovakia (-0.9%). The highest annual rates were recorded in Belgium (2.0%), Sweden (1.1%) and Malta (0.9%).

The largest upward impacts to euro area annual inflation came from restaurants & cafés (+0.11 percentage points), vegetables (+0.09 pp) and fruit (+0.08 pp), while fuels for transport (-0.46 pp), heating oil (-0.15 pp) and gas (-0.12 pp) had the biggest downward impacts.

Source: Famagusta Gazette