Inflation up to 1.2% in the euro area, 1.0% in Cyprus for February 2020

The euro area annual inflation rate was 1.2% in February 2020, down from 1.4% in January, according to figures published today by Eurostat, the statistical office of the European Union.

According to Eurostat, inflation rate in the euro area year earlier was 1.5%. European Union annual inflation was 1.6% in February 2020, down from 1.7% in January. A year earlier, the rate was 1.6%.

In Cyprus inflation increased to 1.0% in February 2020, up from 0.7% in January 2020 and 0.8% in February 2019.

In Greece inflation decreased to 0.4% in February 2020, down from 1.1% in January 2020 and 0.8% in February 2019.

The lowest annual rates were registered in Italy (0.2%), Greece (0.4%) and Portugal (0.5%).

The highest annual rates were recorded in Hungary (4.4%), Poland (4.1%) and Czechia (3.7%).

Compared with January, annual inflation fell in twenty-one Member States, remained stable in one and rose in five. In February, the largest contribution to the annual euro area inflation rate came from services (+0.72 percentage points, pp), followed by food, alcohol and tobacco (+0.41 pp), non-energy industrial goods (+0.13 pp) and energy (-0.03 pp).

Source: Cyprus News Agency