Inflation in Cyprus and the EU rose to 4.4% in October

The annual inflation rate in Cyprus was at 4.4% in October, slightly above the eurozone average (4.1%) but matching the EU on average, according to data released by Eurostat, The European Union's statistical office.

Inflation increased in Cyprus both compared to September, when it was at 3.6%, and compared to October last year when it was at -1.4%.

It is noted that the annual inflation rate increased in all EU Member States compared to September.

In the euro area, the annual inflation rate in October 2021 increased to 4.1%, compared to 3.4% in September, and compared to -0.3% last October.

In the EU, the annual inflation rate in October 2021 increased to 4.4%, compared to 3.6% in September and compared to 0.3% in October last year.

The lowest annual inflation rates among the Member States were recorded in Malta (1.4%), Portugal (1.8%), Finland and Greece (both at 2.8%).

The highest rates were recorded in Lithuania (8.2%), Estonia (6.8%) and Hungary (6.6%).

In October, most of the inflation in the euro area came from the energy sector (increase of 2.21 percentage points), followed by services (increase of 0.86 percentage points), industrial goods outside the energy sector (increase of 0.55 percentage) and the food, alcohol and tobacco sectors (increase of 0.43 percentage points).