Annual inflation rate in Eurozone at 4.0 percent

As was already the case in June the annual inflation rate in the Eurozone (EZ15) once more stood at 4.0% in July. In comparison to June 2008, however, prices slightly fell by 0.2%. In the EU27 prices increased even more: the annual inflation rate rose to 4.4% in July 2008. In June the rate was 4.3%. As compared with June prices also fell slightly by 0.1% in the EU27.

The lowest annual inflation rates in July 2008 were registered in the Netherlands (3.0%), Portugal (3.1%) and Germany (3.5%). The highest rates in Latvia (16.5%), Bulgaria (14.4%) and Lithuania (12.4%). As compared to June 2008 annual inflation increased in fifteen member states, remained unchanged in five and decreased in seven.

The lowest average rates over a twelve-month period until July this year were to be found in the Netherlands (1.8%), Great Britain (2.6%) and Portugal (2.7%). The highest average rates in Latvia (15.1%), Bulgaria (12.3%) and Estonia (10.1%).

The biggest annual increases in prices were registered in the fields of transport (7.2%), food and housing (6.7% each) whereas the lowest inflation rates were found in sectors such as telecommunications (-2.2%), clothing and footwear (-0.5%) as well as leisure and culture (+0.2%).

As compared to June this year inflation was strongest in areas such as leisure and culture, restaurant and hotel industry (1.3% each) as well as housing (rents up by 0.8%). The lowest rates were registered for clothing and footwear (-9.3%), household goods (-0.4%) and telecommunications (-0.3%).

Explanations:

  • Eurozone (EZ15): Belgium, Germany, Ireland, Greece, Spain, France, Italy, Luxembourg, the Netherlands, Austria, Portugal, Slovenia, Finland, Cyprus and Malta
  • EU27: Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Hungary, Malta, the Netherlands, Austria, Portugal, Poland, Romania, Slovenia, Slovakia, Finland, Sweden and Great Britain

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