Consumer inflation fell in both areas of the EU in November according to a statistical bulletin from Eurostat. Inflation in the euro area fell by 0.1% from 0.4% in October to 0.3% in November 2014. In the EU28 similarly the rate of inflation fell from 0.5% in October to 0.4% in November.
There were negative annual rates in Bulgaria, Greece, Spain and Poland with Bulgaria showing a rate of -1.9%. The highest rates were in Romania and Austria with annual rates of 1.5% and Finland on 1.1%.
Euro area annual inflation was 0.3% in September 2014, the lowest rate since October 2009 according to Eurostat. In August the rate was 0.4%. In September 2013 the rate was 1.1%. The monthly inflation rate in September 2014 was 0.4%.
In The European Union as a whole annual inflation was 0.4% in September 2014 down from 0.5% in August. It is the lowest rate since September 2009. In September 2013 the rate was 1.3%. The monthly rate in September 2014 was 0.3%.
High negative inflation growth was reported in Bulgaria (-1.4%) and Greece (-1.1%) and high annual rates were reported in Romania (1.8%), Finland (1.5%) and Austria (1.4%).
The euro area annual inflation rate in June 2014 was stable compared with May at 0.5% according to Eurostat. The European Union annual inflation ratio increased to 0.7% from 0.6% in May. Monthly inflation in the euro area and the wider European Union was 0.1% in June. The UK recorded the highest inflation rate in June with 1.9%.
European annual inflation increased in both zones in June 2013 compared to May going up 1.6% in the euro area and 1.7% in the EU27. Monthly inflation increased by 0.1% in both zones in June. Romania had the highest annual rate with 4.5% and Greece the lowest with -0.3%. The lowest 12 month average rate was in Greece with 0.2% and Romania the highest 4.5%.
Euro area inflation was 1.2% in April 2013 compared with 1.7% in March. The inflation rate was 2.6% in April 2012. EU27 inflation also continues to fall from 1.9% in March to 1.4% in April 2013. It was 2.7% in April 2012.
Annual inflation in Europe in March, measured by HICPs, fell by 0.1% in both zones to 1.7% in the euro area and 1.9% in the EU27 from 1.8% and 2% respectively in February. Euro area monthly inflation (MUICP) was 1.2% in March and in the EU27 inflation for March was 0.9%.
Greece had the lowest annual inflation rate in March at -0.2%. Latvia reported -0.3%. The highest annual rate of inflation was in Romania with 4.4%. The UK reported no figures. Electricity (0.17%) and package holidays (0.12%) had the biggest impact in inflation while the biggest downward effects came from transport (-0.23%) and telecommunications (-0.22%).
HICP inflation in the euro area is expected to be 2% in January 2013, down from 2.2% in Decmber 2012, according to a statistical estimate from Eurostat.
Energy is expected to have the highest rate at 3.9% compared with 5.2% in December, food, alcohol and tobacco follow with 3.2% the same as December, services are almost unchanged at 1.7% compared with 1.8% and non-energy industrial goods at 0.8% compared with 1% in December 2012.
The CPI annual inflation for November 2012 was 2.7%, the same as in October. The index sttod at 124.4 (2005=100). The index was unchanged over all but there were significant changes both upward and downward within the CPI between October and November.
The most significant upward pressure to annual inflation came from food and non-alcoholic beverages, mainly bread, cereals and vegetables and housing and household services mainly gas and electricity. The main downward pressure came from motor fuel and furniture, household equipment and maintenance.
The RPI annual inflation stands at 245.6 in November or 3%, down from 3.2% in October. Motoring expenditure, household and household goods provided the main downward pressure. The main upward pressure came from food.
The CPI measures the changes in the general level of prices for goods and services bought for household consumption. It can be seen as a shopping basket of many different goods and services bought by households. The CPI is the main measure of consumer price inflation for macro-economic purposes. It is used as the basis for the Government's target for inflation that the Bank of England has to achieve. It is also used for the indexation of benefits, tax credits and public service pensions. It is known internationally as the Harmonised Index of Consumer Prices (HICP). HICPs are calculated in each Member State of the European Union. They are used to compare inflation rates across the EU.
The RPI is the longest standing measure of inflation in the UK and historically was used in the indexation of various prices and incomes, the uprating of pensions, state benefits and index-linked gilts and the valorisation of excise duties. Since April 2011 the CPI has been used for some of the previous uses of the RPI as mentioned above.
Some of the main differences between the CPI and the RPI include the population base, item coverage, index methodology and item coding. The CPI population base includes all private and institutional households and foreign visitors. The RPI only includes private households and excludes the highest income households and pensioner households (c.13% of household expenditure). The CPI excludes certain items related to housing costs like mortgage interest payments, house depreciation and council tax that are included in the RPI. The RPI uses the arithmetic mean, the CPI uses the geometric mean. The CPI uses a standard internatikonal classification scheme and the RPI uses a system unique to itself.
