EU and Euro area annual inflation remains stable in August 2011
According to a latest data issued by Eurostat, Euro area annual inflation stable at 2.5% in August, unchanged compared with July. With regard to the EU annual inflation was 2.9% in August 2011, also remains unchanged compared with July.
Euro area annual inflation was 2.5% in August 2011, unchanged compared with July, according the latest statistics published by Eurostat, the statistical office of the European Union. However, a year earlier the rate was 1.6%. Monthly inflation was 0.2% in August 2011. Euro area inflation is measured by the MUICP (Monetary Union Index of Consumer Prices as defined in Council Regulation (EC) Nº 2494/95 of 23 October 1995) which is the official euro area aggregate. EU annual inflation was 2.9% in August 2011, unchanged compared with July. A year earlier the rate was lower, 2.0%. Monthly inflation was 0.2% in August 2011. EU inflation is measured by the EICP (’European Index of Consumer Prices’ as defined in Council Regulation (EC) Nº 2494/95 of 23 October 1995), the official EU aggregate.
Transport (5.6%), housing (4.9%) and alcohol & tobacco (3.1%) were the main components with the highest annual rates in August 2011, while the lowest annual rates were observed for clothing (8%), communications (-1.8%) and recreation & culture (0.4%). The main components with the highest monthly rates were clothing (1.8%) and health (0.5%), while the lowest were food and education (both -0.2%). In particular, garments (+0.09 percentage points) had the largest upward impact, while vegetables (-0.05) and fruit (-0.04) had the biggest downward impacts.
Annual inflation fell in thirteen Member States compared to July, remained stable in two and rose in twelve. In August, the lowest annual rates were observed in Ireland (1.0%), Slovenia (1.2%) and Greece (1.4%), and the highest in Estonia (5.6%), Latvia (4.6%) and the United Kingdom (4.5%). The lowest 12-month averages up to August 2011 were registered in Ireland (0.4%), Sweden (1.6%), the Czech Republic and Slovenia (both 1.9%), and the highest in Romania (7.3%) and Estonia (5.1%).