EU: Annual inflation down in March

ANKARA

(AA) - The EU's annual inflation stood at 1.2% this March, down from 1.6% in February, the bloc's statistical office said on Friday.

In March 2019 the EU's annual inflation rate was 1.6%.

"Compared with February, annual inflation fell in 26 member states and rose in one," the Eurostat said.

The lowest annual rates were seen in Spain, Italy, Greek Cypriot administration, and Portugal (all 0.1%), while the highest rates were in Hungary, Poland (both 3.9%), and the Czechia (3.6%).

Meanwhile, in March, the highest contribution to the annual euro area inflation rate came from the service sector followed by food, alcohol and tobacco, non-energy industrial goods, and energy.

Since 2008, the lowest annual inflation rate in the EU was in January 2015 at minus 0.5% – when prices were in fact dropping – and the highest was seen in July 2008, at 4.4%.