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May 18, 2022
BUSINESS

Romania, the highest inflation rate in EU, up to 8.5 per cent

Euro area annual inflation was 2.7 per cent in May 2011, down from 2.8 per cent in April, Eurostat informs. Moreover, a year earlier the rate was 1.7 per cent. At the same time, monthly inflation was 0.0 per cent in May 2011.

European Union annual inflation was 3.2 per cent in May 2011, down from 3.3 per cent in April. Also, in May 2010 the rate was 2.1 per cent. Concurrently, monthly inflation was 0.1 per cent in May 2011.

The highest annual rate, in May 2011, from the EU Member States, can be noticed in Romania (8,5 per cent), followed by Estonia (5.5 per cent) and Lithuania (5.0 per cent). Moreover, the lowest annual rates were observed in Ireland (1.2 per cent), Sweden (1.7 per cent) and the Czech Republic (2.0 per cent). Compared with April 2011, annual inflation rose in fourteen Member States, remained stable in four and fell in nine.

The lowest twelve month averages up to May 2011 were registered in Ireland (-0.2 per cent), Sweden (1.5 per cent) and the Netherlands (1.6 per cent), and again the highest in Romania (7.5 per cent), Greece (4.8 per cent) and Estonia (4.5 per cent).

The main components with the highest annual rates, in Euro area, in May 2011 were transport (5.3 per cent), housing (4.7 per cent) and alcohol & tobacco (3.3 per cent), while the lowest annual rates were observed for communications (-1.0 per cent), recreation and culture (0.0 per cent) and household equipment (1.0 per cent). Concerning the detailed sub-indices, fuels for transport (+0.48 per cent), heating oil (+0.15 per cent) and electricity (+0.12 per cent) had the largest upward impacts on the headline rate, while telecommunications (-0.12 per cent), rents (-0.08) and cars (-0.07) had the biggest downward impacts.

The main components with the highest monthly rates were food (0.5 per cent), alcohol & tobacco, clothing and hotels and restaurants (0.3 per cent), while the lowest were recreation and culture (-0.5 per cent), transport (-0.4 per cent) and communications (-0.3 per cent). In particular, fruit (+0.04 per cent) and milk, cheese and eggs (+0.02 per cent) had the largest upward impacts, while package holidays (-0.05 per cent), fuels for transport and heating oil (-0.04 per cent) had the biggest downward impacts.

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