Economy

Eurozone annual inflation up to 0.7%, EU up to 0.8%

Published

12 years ago

May 15, 2014

Eurozone annual inflation was 0.7% in April 2014, up from 0.5% in March. A year earlier the rate was 1.2%. Monthly inflation was 0.2% in April 2014. European Union annual inflation was 0.8% in April 2014, up from 0.6% in March. A year earlier the rate was 1.4%. Monthly inflation was 0.1% in April 2014. These figures come from Eurostat, the statistical office of the European Union.

In April 2014, negative annual rates were observed in Greece (-1.6%), Bulgaria (-1.3%), Cyprus (-0.4%), Hungary and Slovakia (both -0.2%), Croatia and Portugal (both -0.1%). The highest annual rates were recorded in Austria and Romania (both 1.6%), Finland (1.3%) and Germany (1.1%). Compared with March 2014, annual inflation fell in seven member states, remained stable in four and rose in sixteen.

The largest upward impacts to eurozone annual inflation came from package holidays (+0.09 percentage points), tobacco and electricity (+0.07 each), while fuels for transport (-0.18), telecommunications (-0.11) and vegetables.

(-0.08) had the biggest downward impacts.

Annual inflation (%) in April 2014, in ascending order

* Data for Austria are provisional. Data for the United Kingdom are for March 2014.

Inflation rates in %, measured by HICPs

	Annual rate					12 month average rate*	Monthly rate
	Apr 14	Mar 14	Feb 14	Jan 14	Apr 13	Apr 14	Apr 14
Belgium	0.9	0.9	1.0	1.1	1.1	1.1	-0.2
Germany	1.1	0.9	1.0	1.2	1.1	1.4	-0.3
Estonia	0.8	0.7	1.1	1.6	3.4	2.3	0.2
Ireland	0.4	0.3	0.1	0.3	0.5	0.3	0.0
Greece	-1.6	-1.5	-0.9	-1.4	-0.6	-1.2	0.4
Spain	0.3	-0.2	0.1	0.3	1.5	0.8	0.6
France	0.8	0.7	1.1	0.8	0.8	0.9	0.0
Italy	0.5	0.3	0.4	0.6	1.3	0.8	0.5
Cyprus	-0.4	-0.9	-1.3	-1.6	0.1	-0.4	0.7
Latvia	0.8	0.3	0.5	0.5	-0.4	0.1	0.5
Luxembourg	0.9	0.8	0.8	1.5	1.7	1.3	0.2
Malta	0.5	1.4	1.6	0.9	0.9	0.8	1.9
Netherlands	0.6	0.1	0.4	0.8	2.8	1.7	0.6
Austria	1.6p	1.4	1.5	1.5	2.1	1.8p	0.1p
Portugal	-0.1	-0.4	-0.1	0.1	0.4	0.3	0.3
Slovenia	0.5	0.6	0.2	0.9	1.6	1.3	0.5
Slovakia	-0.2	-0.2	-0.1	0.0	1.7	0.7	0.0
Finland	1.3	1.3	1.6	1.9	2.4	1.9	0.1
Eurozone	0.7p	0.5	0.7	0.8	1.2	1.0p	0.2p
Bulgaria	-1.3	-2.0	-2.1	-1.4	0.9	-0.8	0.2
Czech Republic	0.2	0.3	0.3	0.3	1.7	0.9	0.0
Denmark	0.5	0.2	0.3	0.8	0.4	0.4	0.1
Croatia	-0.1	-0.1	-0.2	0.4	3.1	1.1	0.5
Lithuania	0.3	0.4	0.3	0.2	1.4	0.6	0.3
Hungary	-0.2	0.2	0.3	0.8	1.8	1.0	-0.1
Poland	0.3	0.6	0.7	0.6	0.8	0.6	0.1
Romania	1.6	1.3	1.3	1.2	4.4	2.1	0.3
Sweden	0.3	-0.4	0.1	0.2	0.0	0.3	0.4
United Kingdom⁵	:	1.6	1.7	1.9	2.4	:	:
EU	0.8p	0.6	0.8	0.9	1.4	1.1p	0.1p
Iceland	1.3	0.9	0.8	1.5	4.0	2.8	0.4
Norway	1.5	1.8	1.9	2.1	1.8	2.2	0.3
Switzerland	0.1	-0.1	-0.2	0.2	-0.4	0.1	0.1

Source: Eurostat p = provisional : = not available

* Average HICP of latest 12 months/average HICP of preceding 12 months.

Annual inflation (%) in the eurozone and European Union

Eurozone inflation rates in % for selected aggregates

Eurozone	Weight (‰)	Annual rate					12-month average rate	Monthly rate
Eurozone	2014	Apr 14	Mar 14	Feb 14	Jan 14	Apr 13	Apr 14	Apr 14
All-items	1000.0	0.7p	0.5	0.7	0.8	1.2	1.0p	0.2p
All-items excluding: > energy	891.9	0.9p	0.8	1.1	1.0	1.4	1.2p	0.2p
> energy, food, alcohol & tobacco	694.4	1.0p	0.7	1.0	0.8	1.0	1.0p	0.3p
> energy, unprocessed food	817.1	1.1p	0.9	1.1	1.0	1.1	1.1p	0.2p
> energy, seasonal food	853.5	1.1p	0.9r	1.1	1.0	1.2	1.2p	0.2p
> tobacco	976.1	0.6p	0.4	0.6	0.7	1.1	0.9p	0.2p
Energy	108.1	-1.2p	-2.1	-2.3	-1.2	-0.4	-0.7p	-0.1p
Food, alcohol and tobacco	197.6	0.7p	1.0	1.5	1.7	2.9	2.2p	-0.1p
Non-energy industrial goods	266.6	0.1p	0.2	0.4	0.2	0.8	0.4p	0.4p
Services	427.8	1.6p	1.1	1.3	1.2	1.1	1.3p	0.1p

Source: Eurostat p = provisional r = revised

Sub-indices with largest impacts on eurozone annual inflation

Sub-index		Weight (‰)	Annual rate	Impact (percentage points)
Sub-index		2014	Apr 14	Apr 14
09.60	Package holidays	17.1	8.1p	0.09
02.20	Tobacco	23.9	3.7p	0.07
04.51	Electricity	27.2	3.1p	0.07
01.17	Vegetables	15.6	-4.0p	-0.08
08.2/3	Telecommunications	29.0	-2.9p	-0.11
07.22	Fuels for transport	47.5	-2.7p	-0.18