Cyprus registered the lowest annual inflation in the euroarea for March 2018, with -0.4%. In February inflation was again -0.4%, down from +1.5% a year ago, in March 2017, according to figures published by Eurostat, the statistical office of the European Union. Greece (0.2%) and Denmark (0.4%) follow with the second and third lowest annual rates.
Meanwhile euroarea annual inflation rate was 1.3% in March 2018, up from 1.1% in February. A year earlier, the rate was 1.5%. European Union annual inflation was 1.5% in March 2018, up from 1.4% in February. A year earlier the rate was 1.6%.
The highest annual rates were recorded in Romania (4.0%), Estonia (2.9%), Slovakia and Lithuania (both 2.5%). Compared with February, annual inflation fell in six Member States, remained stable in six and rose in fifteen. In March 2018, the highest contribution to the annual euro area inflation rate came from services (+0.67 percentage point), followed by food, alcohol & tobacco (+0.41 pp), energy (0.20 pp) and non-energy industrial goods (0.07 pp).