this annual inflation rate Stayed at 8.6% in June in EurozoneCompared to 8.1% recorded in May, Highest rise in prices in the euro area in the entire historical series and more than four times the European Central Bank’s (ECB) price stability target of 2%, as confirmed by Eurostat, the community statistics office.
on your side, in all European Union (EU), price increase rose to 9.6% in June from 8.8% a month earlier and well above the 2.2% recorded a year ago.
According to the Community statistics office, the unstoppable rise in prices in the euro area in the sixth month of 2022 responded to the 42% year-on-year increase in energy prices, accelerating from 39.1% in May. The increase in fresh food prices was 11.2% in June on an annual basis, at 9% in May.
At the same time, services have become more expensive at 3.4% per yearPrices of non-energy industrial goods increased by 4.3% compared to 4.2% in May and decreased by a tenth compared to the previous month.
By subtracting the effect of energy from the calculation, most annual inflation rate 4.9 percent of the euro area in JuneExcluding the impact of fresh food, alcohol and tobacco prices, the core inflation rate was 3.7%, one-tenth of the record 3.8% recorded in May, compared to 4.6% month-on-month.
Among twenty-seven countries, the inflation rate accelerated in all countries in June, with the exception of Germany, where it moderated from 8.7% to 8.2%, and the Netherlands, where it rose to 9.9% from 10.2% in May.
The largest price increases in the EU were recorded in Estonia (22%), Lithuania (20.5%) and Latvia (19.2%).the least strong increases were in Malta (6.1%), France (6.5%) and Finland (8.1%).
In addition to the three Baltic states, twelve other EU members, including the Czech Republic (16.6%), recorded double-digit price increases; Bulgarian (14.8%); Poland (14.2%); Romania (13%); Hungary (12.6%); Slovakia (12.6%); Greece (11.6%); Slovenia (10.8%); Belgium (10.5%); Luxembourg (10.3%); and Spain (10%), Netherlands (9.9%); Ireland (9.6%); Cyprus and Portugal (9% each) recorded at least 9%.
In the case of Spain, the harmonized inflation rate remained at 10% in June compared to 8.5% in May.It widens the negative price gap relative to the euro area average to 1.4 percentage points.
The European Central Bank (ECB) Governing Council will meet this Thursday and plans to raise interest rates by 25 basis points, the first since 2011, as announced on 9 June. New anti-fragmentation tool to facilitate adequate transmission of monetary policy to all Euro countries.