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Annual inflation rises to 8.9% in euro area & 9.8% in EU: Eurostat
19 Aug '22
1 min read
Pic: 123rf.com
The euro area annual inflation rate was 8.9 per cent in July 2022, up from 8.6 per cent in June. A year earlier, the rate was 2.2 per cent. European Union annual inflation was 9.8 per cent in July 2022, up from 9.6 per cent in June. A year earlier, the rate was 2.5 per cent. These figures are published by Eurostat, the European Union’s statistical office.
The lowest annual rates were registered in France, Malta (both 6.8 per cent) and Finland (8.0 per cent), according to a press release. The highest annual rates were recorded in Estonia (23.2 per cent), Latvia (21.3 per cent), and Lithuania (20.9 per cent). Compared with June, annual inflation fell in six member states, remained stable in three, and rose in eighteen.
In July, the highest contribution to the annual euro area inflation rate came from energy (+4.02 percentage points, pp), followed by food, alcohol and tobacco (+2.08 pp), services (+1.60 pp), and non-energy industrial goods (+1.16 pp).
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