Annual inflation in Cyprus recorded an increase during the month of December 2011, while subsideing on average in the EU and the Eurozone.

According to Eurostat data, released today, the annual inflation rate rose to 4.2% in Cyprus, up from 4% last November.

Euro area annual inflation was 2.7% in December 2011, down from 3% in November, while a year earlier the rate was 2.2%.

EU annual inflation was 3% in December 2011, down from 3.4% in November. A year earlier, the rate was 2.7%.

The lowest annual rates in the Eurozone were recorded in Malta (1.3%) and Ireland (1.7%), and the highest in Slovakia (4.6%) and Cyprus.

EU-wide variations in product prices on an annual basis (December2011/December 2010) were recorded as follows: energy +11.9%, alcohol and tobacco +3.5%, transport +5.5%, housing +4.9%, hotels and restaurants +1.9%, education +1.5%, health +1.6%, housing equipment +1.1%, garments +0.5%, food +2.5% and telecommunications -1.3%. 

Inflation rates recorded in the Eurozone member states in December were 4.6% in Slovakia, 4.2% in Cyprus, 4.1% in Estonia, 3.7% in Italy, 3.5% in Portugal, 3.4% in Austria, 3.4% in Luxembourg, 3.2% in Belgium, 2.7% in France, 2.6% in Finland, 2.5% in Holland, 2.4% in Spain, 2.3% in Germany, 2.2% in Greece, 2.1% in Slovenia, 1.7% in Ireland and 1.3% in Malta.

18 January, 2012

Source: Financial Mirror