Euro area inflation drops to 0.7% in October, negative to -0.6% in Cyprus. Euroarea annual Growth at 1.1%

Euro area annual inflation is expected to be 0.7% in October 2019, down from 0.8% in September according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, services is expected to have the highest annual rate in October (1.6%, compared with 1.5% in September), followed by food, alcohol and tobacco (1.6%, stable compared with September), non-energy industrial goods (0.3%, compared with 0.2% in September) and energy (-3.2%, compared with -1.8% in September).

More specifically in Cyprus inflation is estimated at -0.6% in October 2019, down from -0.5% in September and 1.9% in October 2018. In Greece inflation decreased to -0.2%, from 0.2% in September and 1.8% in October 2018.

Meanwhile seasonally adjusted GDP rose by 0.2% in the euro area (EA19) and by 0.3% in the EU28 during the third quarter of 2019, compared with the previous quarter. In the second quarter of 2019, GDP had grown by 0.2% in both zones. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.1% in the euro area and by 1.4% in the EU28 in the third quarter of 2019, after +1.2% in the euro area and +1.4% in the EU28 in the previous quarter.

Source: Cyprus News Agency