April 19, 2021

According to the statistical office of the European Union (Eurostat), in April 2021, the euro area annual inflation rate was 1.6%, 0.3% higher when compared to the 1.3% booked in March 2021. However, it was noted that a year earlier the rate was 0.3%. Additionally, the European Union annual inflation was reported at 2.0%, greater than March 2021 rate of 1.7% and the previous year with a rate of 0.7%.

The lowest annual rates were observed in Greece (-1.1%), Portugal (-0.1%) and Malta (0.1%). The highest annual rates were recorded in Hungary (5.2%), Poland (5.1%) and Luxembourg (3.3%). When compared with March, annual inflation fell in three Member States, remained stable in one and rose in twenty-three.

Eurostat also noted, the highest contribution to the annual euro area inflation rate in April 2021 was as a result of an increase in; “energy (+0.96 percentage points, pp), followed by services (+0.37 pp), food, alcohol & tobacco (+0.16 pp) and non-energy industrial goods (+0.12 pp).”

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