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Prodromou: Greek Cypriot Side Ready for Preparatory Process Proposed by UNSG

Georgiades: Cyprus Economy Growth Remains Strong

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Annual Inflation Up to 1.3% in the Euro Area

Annual Inflation Up to 1.3% in the Euro Area

The euro area annual inflation rate was 1.3% in June 2019, up from 1.2% in May. A year earlier, the rate was 2.0%. European Union annual inflation was 1.6% in June 2019, stable compared to May. A year earlier, the rate was 2.1%. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%). The highest annual rates were recorded in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%). Compared with May, annual inflation fell in seventeen Member States, remained stable in one and rose in nine.

In June, the highest contribution to the annual euro area inflation rate came from services (+0.73 percentage points, pp), followed by food, alcohol & tobacco (+0.30 pp), energy (+0.17 pp) and non-energy industrial goods (+0.07 pp).

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