BUSINESS

Romania registered the highest annual inflation rate in EU

Euro area annual inflation was 2.3 per cent in January 2011, up from 2.2 per cent in December 2010. A year earlier the rate was 0.9 per cent. Monthly inflation was -0.7 per cent in January 2011, Eurostat, the statistical office of the European Union, informs.


EU annual inflation was 2.7 per cent in January 2011, unchanged compared to December 2010. A year earlier the rate was 1.7 per cent. Monthly inflation was -0.4 per cent in January 2011.


In January 2011, the lowest annual rates were observed in Ireland (0.2 per cent) and Sweden (1.4 per cent), and the highest in Romania (7.0 per cent), Estonia (5.1 per cent) and Greece (4.9 per cent). Compared with December 2010, annual inflation rose in fifteen and fell in twelve Member States.


The lowest 12-month averages5 up to January 2011 were registered in Ireland (-1.4 per cent), Latvia (-0.7 per cent) and Slovakia (1.0 per cent) and the highest in Romania (6.2 per cent), Greece (4.9 per cent) and Hungary (4.5 per cent).


The main components with the highest annual rates in January 2011 were transport (5.1 per cent), housing (4.5 per cent) and alcohol & tobacco (3.7 per cent), while the lowest annual rates were observed for clothing (-0.6 per cent), communications (-0.2 per cent) and recreation & culture (0.1 per cent).

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