Filenews 17 June 2023
The annual inflation rate stood at 3.6% in Cyprus, 6.1% in the euro zone and 7.1% in the EU in May, according to Eurostat data.
The index fell compared to April in both Cyprus (from 3.9%), the euro area (from 7.0%) and the EU (from 8.1%).
The lowest annual inflation rates in May were recorded in Luxembourg (2%), Belgium (2.7%), and Denmark and Spain (each 2.9%). The index reached its highest levels in Hungary (21.9%) and Poland and the Czech Republic (12.5% each).
Compared with April, annual inflation decreased in twenty-six Member States and increased in one.
Food, alcohol and tobacco made the highest contribution to euro area annual inflation in May (+2.54 pp), followed by services (+2.15 pp), non-energy industrial goods (+1.51 pp) and energy (-0.09 pp).
CNA
