17.Jun .2022 16:30

Annual Inflation Up to 8.8% in the EU

Annual Inflation Up to 8.8% in the EU
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The euro area annual inflation rate was 8.1% in May 2022, up from 7.4% in April. A year earlier, the rate was 2.0%. European Union annual inflation was 8.8% in May 2022, up from 8.1% in April. A year earlier, the rate was 2.3%.

These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in France, Malta (both 5.8%) and Finland (7.1%). The highest annual rates were recorded in Estonia (20.1%), Lithuania (18.5%) and Latvia (16.8%). Compared with April, annual inflation fell in one Member State and rose in twenty-six.

In May, the highest contribution to the annual euro area inflation rate came from energy (+3.87 percentage points, pp), followed by food, alcohol & tobacco (+1.59 pp), services (+1.46 pp) and non-energy industrial goods (+1.13 pp).