Thursday, 15 July 2010

Consumer Inflation Falling Across Europe

Euro area inflation in June 2010 was 1.4% down from 1.6% in May. EU annual inflation was 1.9% in June from 2% in May. It was 0.6% a year ago.

The lowest annual inflation rates among Member States in June 2010 were in Ireland with -2% and Latvia with -1.6%. Greece had the highest inflation rate with 5.2% followed by Hungary with 5% and Romania with 4.3%. Inflation fell in 15 Member States, remained stable in 4 and grew in 8.

The things that added most to annual inflation in the euro area were transport and alcohol and tobacco. The lowest rates were in communications, recreation and culture and food. Monthly inflation was mostly affected by increases in alcohol and tobacco and hotels and restaurants. The lowest increases were in clothing, transport and communication.

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