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Eurostat: Cyprus inflation at 1.9% in December

The annual inflation rate in Cyprus stood at 1.9% in December 2023, down from 2.4% in November and 7.6% in December 2022, according to Eurostat.

The Eurozone annual inflation rate was 2.9% in December (up from 2.4% in November. and.2% in December 2022), while the EU’s stood at 3.4% - up from 3.1% in November and 10.4% a year earlier.

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 15 member states (including Cyprus), remained stable in one and rose in 11.

In December, the highest contribution to the annual euro area inflation rate came from services (+1.74 percentage points, pp), followed by food, alcohol & tobacco (+1.21 pp), non-energy industrial goods (+0.66 pp) and energy (-0.68 pp).

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