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Euro area annual inflation stable at 1.9%

May '07
Euro area1 annual inflation was 1.9% in April 20072, unchanged compared with March. A year earlier the rate was 2.5%. Monthly inflation was 0.6% in April 2007.

EU3 annual inflation was 2.2% in April 2007, down from 2.3% in March. A year earlier the rate was 2.3%. Monthly inflation was 0.6% in April 2007. These figures come from Eurostat, the Statistical Office of the European Communities.

Inflation in the EU Member States:
In April 2007, the lowest annual rates were observed in Malta (-1.1%), France (1.3%) and Finland (1.5%), and the highest rates in Latvia (8.8%), Hungary (8.7%) and Estonia (5.6%). Compared with March, annual inflation rose in nine Member States, remained stable in eight and fell in ten.

The lowest 12-month averages4 up to April 2007 were recorded in Finland (1.3%), the Netherlands, Poland and Sweden (1.6% each) and the highest in Latvia (7.0%), Bulgaria and Hungary (6.2% each).

Euro area:
The main components with the highest annual rates in April 2007 were the lowest annual rates were observed for communications (-2.2%), clothing, household equipment and transport (1.4% each).

The main components with the highest monthly rates were education (5.9%) and clothing (2.7%). In particular, garments (+0.11 percentage points each) had the largest upward impact.

Measures of inflation:
The annual rate measures the price change between the current month and the same month of the previous year. This measure is responsive to recent changes in price levels but can be influenced by one-off effects in either month.

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