April 16, 2021
According to the statistical office of the European Union (Eurostat), in March 2021, the euro area annual inflation rate was 1.3%, 0.4% higher compared to February 2021. However, it was noted that a year earlier the rate was 0.7%. Additionally, the European Union annual inflation was reported at 1.7%, greater than February 2021 rate of 1.3%; relative to the previous year with a rate of 1.2%.
The lowest annual rates were observed in Greece (-2.0%), Portugal, Malta, Ireland and Slovenia (all 0.1%), while the highest annual rates were documented in Poland (4.4%), Hungary (3.9%), Romania and Luxembourg (both 2.5%). The annual inflation rate when compared to February 2021 decreased in three Member States, remained stable in three and increased in twenty-one.
Eurostat also noted, “the highest contribution to the annual euro area inflation rate in March 2021 came from: services (+0.57 percentage points, pp), followed by energy (+0.43 pp), food, alcohol & tobacco (+0.24 pp) and non-energy industrial goods (+0.09 pp).”
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