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Eurostat estimates October inflation will drop to 3.3% in Cyprus

The annual inflation rate in Cyprus is expected to drop to 3.3% in October compared to 4.3% in September, according to a flash estimate from Eurostat.

Euro area annual inflation is expected to be 2.9% in October 2023, down from 4.3% in September, according to the same estimate.

Looking at the main components of inflation in the Eurozone, food, alcohol & tobacco is expected to have the highest annual rate in October (7.5%, compared with 8.8% in September), followed by services (4.6%, compared with 4.7% in September), non-energy industrial goods (3.5%, compared with 4.1% in September) and energy (-11.1%, compared with -4.6% in September).

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