EU: Annual Inflation Rate Soar Up to 0.8 Percent in June

Published July 18th, 2020 - 07:30 GMT
EU: Annual Inflation Rate Soar Up to 0.8 Percent in June
In June, annual inflation rose in 24 member states and dropped in three compared to the previous month. (Shutterstock)
Highlights
Annual inflation rises in 24 member states and down in 3 last month versus May, Eurostat says

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.

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.

In June, annual inflation rose in 24 member states and dropped in three compared to the previous month.

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.


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