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Annual inflation increases in Cyprus, drops in EU according to Eurostat

The annual inflation rate in Cyprus increased to 4.3% in September 2023, from 3.1% in August, while a year earlier the rate was at 9.0%, according to figures published by Eurostat, the statistical office of the European Union.

The eurozone annual inflation rate was 4.3% in September 2023, down from 5.2% in August. A year earlier, the rate was 9.9%.

European Union annual inflation was 4.9% in September 2023, down from 5.9% in August. A year earlier, the rate was 10.9%.

The lowest annual rates were registered in the Netherlands (-0.3%), Denmark (0.6%) and Belgium (0.7%). The highest annual rates were recorded in Hungary (12.2%), Romania (9.2%), and Slovakia (9.0%).

Compared with August, annual inflation fell in twenty-one Member States, remained stable in one, and rose in five (including Cyprus).

In September, the highest contribution to the annual euro area inflation rate came from services (+2.05 percentage points, pp), followed by food, alcohol & tobacco (+1.78 pp), non-energy industrial goods (+1.06 pp), and energy (-0.55 pp).

(Source: CNA)

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