July 16, 2021

According to the statistical office of the European Union (Eurostat), in June 2021, the euro area annual inflation rate was 1.9%, 0.1% down from 2.0% in May 2021. However, in June 2020, the rate was 0.3%. Additionally, in the European Union annual inflation was reported at 2.2%, less than May 2021 rate of 2.3%; relative to the previous year, the rate was 0.8%.

The lowest annual rates were observed in Portugal (-0.6%), Malta (0.2%), and Greece (0.6%). The highest annual rates were recorded in Hungary (5.3%), Poland (4.1%) and Estonia (3.7%). Compared with May, annual inflation decreased in twelve Member States, remained stable in one, and increased in eleven.

Eurostat also noted, the highest contribution to the annual euro area inflation rate in June 2021 came from: energy (+1.16 percentage points, pp), followed by non-energy industrial goods (+0.31 pp), services (+0.28 pp) and food, alcohol & tobacco (+0.15 pp).

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