Tuesday, July 16 2024

Cyprus’ inflation at 9% in September

Cyprus’ inflation at 9% in September

Cyprus’ annual inflation rate came to 9% in September, a little under the eurozone and European Union averages and significantly lower than the 12.1% EU-harmonized rate recorded in Greece.

The euro area’s annual inflation rate was 9.9% in September 2022, up from 9.1% in August and up even further from 3.4% a year earlier, according to figures published by Eurostat.

Cyprus’ annual inflation rate dropped compared to August, when it was at 9.6% but stood far above that of September 2021, when it had been at 3.6%. The European Union’s annual inflation was 10.9% in September 2022, up from 10.1% in August. A year earlier, the rate had been 3.6%.

The lowest annual rates were registered in France (6.2%), Malta (7.4%) and Finland (8.4%). The highest annual rates were recorded in Estonia (24.1%), Lithuania (22.5%) and Latvia (22%).

Compared with August, annual inflation fell in six member states, remained stable in one and rose in 20. The highest contribution to the annual euro area inflation rate came from energy (with a 4.19 percentage point increase), followed by food, alcohol and tobacco (with a 2.47 percentage point increase).