Cyprus annual inflation at 1% in February, monthly inflation at 0.2%

Cyprus recorded an annual inflation of 1% in February and a monthly inflation of 0.2%, data released by the Cyprus Statistical Service, on Wednesday, show.

In particular, according to a press release published in CyStat`s website in February 2020 the harmonized index of consumer prices increased by 1.0% compared to the index of February 2019 while, when compared to the index of January 2020, it increased by 0.2%.

During the first two months of this year the index was up by 0.9% compared to the first two months of 2019.

Compared to February 2019, the categories Communication and Housing, Water, Electricity, Gas and Other Fuels recorded the greatest positive changes with percentages of 4.1% and 3.5% respectively, the press release continues.

The greatest negative change was observed in the category of Clothing and Footwear with a percentage of 4.2%.

Compared to January 2020, the greatest change was recorded in the category Clothing and Footwear (4.7%).

According to CyStat in the period January-February 2020, compared to the same period of the previous year, the greatest positive change was noted in Communication (3.7%), whereas the largest negative change was recorded in Clothing and Footwear (3.5%).

As regards economic origin, the greatest change when compared to the index of February 2019 was observed in the category Energy (6.5%), whereas when compared to the index of the previous month the greatest change was observed in the category Non Energy Industrial Goods (1.1%), the press release concludes.

Source: Cyprus News Agency

Euro area international trade in goods surplus €1.3 bn, €-2.6 bn deficit for EU27, €-0.5 for Cyprus

Euro area international trade in goods recordeed a surplus of €1.3 bn in January 2020, while the EEU27 as a whole recorded a €-2.6 bn deficit and Cyprus a -0.5deficit for the same monthn, according to data released today by Eurostat, the statistical service of the EU.

More specifically, the first estimate for euro area (EA19) exports of goods to the rest of the world in January 2020 was €184.0 billion, an increase of 0.2% compared with January 2019 (€183.7 bn). Imports from the rest of the world stood at €182.7 bn, a fall of 0.2% compared with January 2019 (€183.0 bn). As a result, the euro area recorded a €1.3 bn surplus in trade in goods with the rest of the world in January 2020, compared with +€0.6 bn in January 2019. Intra-euro area trade fell to €164.2 bn in January 2020, down by 1.6% compared with January 2019.

Furthermore, the first estimate for extra-EU27 exports of goods in January 2020 was €166.5 billion, up by 0.4% compared with January 2019 (€165.8 bn). Imports from the rest of the world stood at €169.0 bn, down by 0.2% compared with January 2019 (€169.3 bn). As a result, the EU27 recorded a €2.6 bn deficit in trade in goods with the rest of the world in January 2020, compared with -€3.4 bn in January 2019. Intra-EU27 trade fell to €255.3 bn in January 2020, -0.9% compared with January 2019.

Meanwhile in Cyprus, the total worth of exports was €0.2 bn for January 2020, or -60% compared to January 2019 (€0.1 bn to the EU, or -83% decrease and €0.1bn to the rest of the world or 38% increase. At the same time the total worth of imports was €0.7 bn, or -15% decrease compared to January 2019 (€0.4bn from the EU, or 29% increase and €0.3bn from the rest of the world or -46% decrease). As a result Cyprus recorded a €-0.5bn trade deficit in January 2020, compared to €-0.3 in January 2019, €-0.4 with the EU and €-0.1 with the rest of the world.

Source: Cyprus News Agency