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News : EU Economy Last Updated: May 16, 2011 - 4:45 PM

Eurozone annual inflation was 2.8% in April 2011
By Finfacts Team
May 16, 2011 - 3:06 PM

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Eurozone annual inflation was 2.8% in April 2011, up from 2.7% in March. A year earlier the rate was 1.6%. Monthly inflation was 0.6% in April 2011.

EU annual inflation was 3.2% in April 2011, up from 3.1% in March. A year earlier the rate was 2.1%. Monthly inflation was 0.5% in April 2011. These figures come from Eurostat, the statistics office of the European Union.

The target rate of the European Central Bank is 'below but close to 2%.'

Inflation in the EU Member States: In April 2011, the lowest annual rates were observed in Ireland (1.5%), the Czech Republic (1.6%) and Sweden (1.8%), and the highest in Romania (8.4%), Estonia (5.4%), Lithuania and Hungary (both 4.4%). Compared with March 2011, annual inflation rose in sixteen Member States, remained stable in two and fell in eight.

The lowest 12-month averages up to April 2011 were registered in Ireland (-0.4%), Latvia (1.3%) and the Netherlands (1.4%), and the highest in Romania (7.2%), Greece (5.0%) and Estonia (4.3%).

Eurozone: The main components with the highest annual rates in April 2011 were transport (5.9%), housing (5.0%) and alcohol & tobacco (3.4%), while the lowest annual rates were observed for communications (-0.9%), recreation & culture (0.9%) and household equipment (1.0%). Concerning the detailed sub-indices, fuels for transport (+0.56 percentage points), heating oil (+0.21) and electricity (+0.12) had the largest upward impacts on the headline rate, while telecommunications (-0.12), vegetables (-0.10) and rents (-0.09) had the biggest downward impacts.

The main components with the highest monthly rates were clothing (2.6%), transport (1.1%) and housing (0.6%), while the lowest were communications (-0.4%), education (0.0%) and recreation & culture (0.1%). In particular, garments (+0.11 percentage points), fuels for transport (+0.07) and air transport (+0.06) had the largest upward impacts, while vegetables, telecommunications and restaurants & cafés (-0.03 each) had the biggest downward impacts.

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© Copyright 2011 by Finfacts.com

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