Cyprus' annual inflation rate at 9.0%, lower than EU's 9.9%

The euro area's annual inflation rate was 9.9% in September 2022, up from 9.1% in August and up from 3.4% a year earlier, according to figures published by Eurostat, the statistical office of the European Union.

In Cyprus, the annual inflation rate in September was at 9.0%, a little under the eurozone and EU averages.

The annual inflation rate dropped compared to August when it was at 9.6% and compared to last year when it was at 3.6%.

European Union's annual inflation was 10.9% in September 2022, up from 10.1% in August. A year earlier, the rate was 3.6%.

The lowest annual rates were registered in France (6.2%), Malta (7.4%) and Finland (8.4%). The highest annual rates were recorded in Estonia (24.1%), Lithuania (22.5%) and Latvia (22.0%).

Compared with August, annual inflation fell in six member states, remained stable in one and rose in twenty.

In September, the highest contribution to the annual euro area inflation rate came from energy (4.19 percentage points or pp increase), followed by food, alcohol & tobacco (2.47 pp increase), services (1.80 pp increase) and non-energy industrial goods (1.47 pp increase).