According to Eurostat, the inflation rate in the Euro Area was 2.0% at the conclusion of June 2018, increasing 1.9% from the May 2018 rate. Simultaneously, European Union annual inflation stayed steady at 2% in June 2018 compared to May 2018.
Countries with the lowest annual rates included: Ireland (0.7%), Greece (1.0%), and Denmark (1.1%). Members of the Euro Area with higher inflation rates included: Romania (4.7%), Estonia (3.9%), and Hungary (3.2%). When comparing the inflation rates of May 2018 and June 2018, the rates fell in three member states, remained stable in two states, and rose in twenty-two states.
The highest contributor to the rising inflation rate in the Euro Area came from energy (+0.76 pp), followed by services (+0.57 pp), food, alcohol & tobacco (+0.53 pp), and non-energy industrial goods (+0.10 pp).
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