Annual inflation fell to 0.3% in the euro area

May 21, 2020

In April 2020, a month marked by COVID-19 containment measures in all countries, the euro area annual inflation rate stood at 0.3%, a decrease from 0.7% in March, according to the statistical office of the European Union (Eurostat). Compared to the previous year, the rate was 1.7%. Additionally, the European Union annual inflation was reported at 0.7% in April 2020, a decrease from 1.2% in March. Compared to the previous year, the rate was 1.9%.

The lowest annual rates were observed in Slovenia (-1.3%), Cyprus (-1.2%), Estonia and Greece (both -0.9%). Additionally, the highest annual rates were registered in Czechia (3.3%), Poland (2.9%) and Hungary (2.5%). In comparison with March 2020, annual inflation declined in twenty-six Member States and remained stable in one.

The highest contribution to the annual euro area inflation rate in April 2020 came from: food, alcohol & tobacco (+0.67 percentage points, pp), followed by services (+0.52 pp), non-energy industrial goods (+0.09 pp) and energy (-0.97 pp).

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