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Cyprus records new drop in inflation rate
2007-03-15 11:39:44

Brussels, Mar 15 - A new drop in inflation was recorded in Cyprus in February, reaching 1.2% compared to 1.4% in January.

This is the second lowest inflation rate in the EU after Malta with 0.8%, which allows Cyprus to easily fulfill the relevant criterion for entering the Economic and Monetary Union (EMU).

Data released by Eurostat indicates that the harmonised inflation rate in the Eurozone was 1.8% in February and in the whole EU 2.1%.

The highest rates were recorded in Hungary with 9.0%, Latvia 7.2%, and Bulgaria and Estonia both 4.6%.

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