Euro area annual inflation down to 1.9%

July 1, 2021

According to the statistical office of the European Union (Eurostat), in June 2021, the euro area annual inflation rate is expected to be 1.9%, 0.1% lower when compared to the 2.0% booked in May 2021. However, it was noted that a year earlier the annual rate was 0.3% in June 2020.

The lowest annual rates were observed in Portugal (-0.6%), Malta (0.2%) and Greece (0.6%). The highest annual rates were recorded in Estonia (3.7%), Lithuania (3.5%) and Luxembourg (3.4%). When compared with May 2021, in the Member states annual inflation was stable in four, declined in eight and rose in seven.

Eurostat also noted, the highest contribution to the annual euro area inflation rate in June 2021 is expected to be energy, increasing from 13.1% in May to 12.5%, followed by non-energy industry goods which is expected to climb to 1.2% from 0.7% in May. Services are estimated to decrease to 0.7%, compared with 1.1% in May and Food, alcohol & tobacco rose to 0.6% from 0.5% in May.


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