Thursday, Dec 03

Eurostat reports bloc's annual inflation rate up

In June, annual inflation rose in 24 member states and dropped in three compared to the previous month.
17.07.2020 - 15:02

The European Union's annual inflation rate was 0.8% in June, up from 0.6% a month earlier, the 27-member bloc's statistics office announced Friday.

Eurostat said the eurozone's annual inflation rate also increased from 0.1% to 0.3% month-on-month in June.

HIGHEST CONTRIBUTION CAME FROM FOOD

The eurozone/euro area or EA19 represents member states that use the single currency -- euro -- while the EU27 includes all member countries of the bloc.

The lowest annual rates were registered in Greek-administered Cyprus (-2.2%), Greece (-1.9%), and Estonia (-1.6%), Eurostat said.

The Poland (3.8%), Czech Republic (3.4%), and Hungary (2.9%) posted the highest inflation rates during the same period.

"In June, the highest contribution to the annual euro area inflation rate came from food, alcohol & tobacco (+0.60 percentage points, pp), followed by services (+0.55 pp), non-energy industrial goods (+0.05 pp), and energy (-0.93 pp)," it added.