| Month |
2002 |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
| January |
2.7 |
2.3 |
1.9 |
1.9 |
2.4 |
1.8 |
3.2 |
| February |
2.4 |
2.4 |
1.6 |
2.1 |
2.3 |
1.8 |
3.3 |
| March |
2.5 |
2.4 |
1.7 |
2.1 |
2.2 |
1.9 |
3.5 |
| April |
2.4 |
2.1 |
2.0 |
2.1 |
2.4 |
1.9 |
3.3 |
| May |
2.0 |
1.9 |
2.4 |
2.0 |
2.5 |
1.9 |
|
| June |
1.8 |
2.0 |
2.4 |
2.1 |
2.5 |
1.9 |
|
| July |
1.9 |
1.9 |
2.3 |
2.2 |
2.4 |
1.8 |
|
| August |
2.1 |
2.1 |
2.3 |
2.2 |
2.3 |
1.7 |
|
| September |
2.1 |
2.3 |
2.1 |
2.6 |
1.7 |
2.1 |
|
| October |
2.3 |
2.0 |
2.4 |
2.5 |
1.6 |
2.6 |
|
| November |
2.2 |
2.2 |
2.2 |
2.3 |
1.9 |
3.1 |
|
| December |
2.3 |
1.8 |
2.4 |
2.2 |
1.9 |
3.1 |
|
|
Source Eurostat
|
|
|
|
|
|
|
|
|
|
|
Annual Irish Inflation falls to 4.3% in April; Rate for Services
was 4.8% while Goods increased by 3.8%; Food up 8.1%
Eurozone1
annual inflation was 3.3% in April 20082, down from
3.6% in March. A year earlier the rate was 1.9%. Monthly
inflation was 0.3% in April 2008.
EU3
annual inflation was 3.6% in April 2008, down from 3.8% in
March.
A year earlier the rate was 2.2%. Monthly inflation was
0.4% in April 2008.
These
figures come from Eurostat, the Statistical Office of the
European Union.
Inflation in the EU Member States
In April
2008, the lowest annual rates were observed in the Netherlands
(1.7%), Portugal (2.5%) and Germany (2.6%), and the highest in
Latvia (17.4%), Bulgaria (13.4%) and Lithuania (11.9%). Compared
with March 2008, annual inflation rose in eight Member States,
remained stable in four and fell in fifteen.
The lowest 12-month averages4 up to April 2008 were
registered in the Netherlands (1.7%), Malta (1.9%), Denmark,
Sweden and the United Kingdom (2.2% each), and the highest in
Latvia (13.0%), Bulgaria (10.1%) and Estonia (8.8%).
Eurozone
The main
components with the highest annual rates in April 2008 were food
(6.0%), housing and transport (4.8% each), while the lowest
annual rates were observed for communications (-1.6%),
recreation & culture (-0.4%) and clothing (0.8%). Concerning the
detailed sub-indices, fuels for transport (+0.41 percentage
points), heating oil (+0.25), milk, cheese & eggs (+0.24) and
bread & cereals (+0.16) had the largest upward impacts on the
headline rate, while cars (-0.16), telecommunications (-0.15)
and garments (-0.14) had the biggest downward impacts.
The main
components with the highest monthly rates were clothing (2.5%),
housing (0.6%) and food (0.5%), and the lowest were recreation &
culture (-1.6%), communications (-0.1%) and education (0.1%). In
particular, garments (+0.11 percentage points), footwear
(+0.04), heating oil, gas, vegetables and fuels for transport
(+0.02 each) had the largest upward impacts, while package
holidays (-0.13), gardens, plants & flowers, accommodation
services and telecommunications (-0.02 each) had the biggest
downward impacts.
Annual inflation (%) in April 2008 in ascending order
Eurozone
|
NL
|
PT
|
DE5
|
IE
|
FI
|
Eurozone
|
FR
|
AT
|
|
1.7p
|
2.5
|
2.6
|
3.3
|
3.3
|
3.3p
|
3.4
|
3.4p
|
|
IT
|
BE
|
MT
|
ES
|
CY
|
LU
|
EL
|
SI
|
|
3.6
|
4.1
|
4.1
|
4.2
|
4.3
|
4.3
|
4.4
|
6.2
|
EU Member States outside the Eurozone
|
UK
|
SE
|
DK
|
EU
|
SK
|
PL
|
CZ
|
HU
|
RO
|
EE
|
LT
|
BG
|
LV
|
|
3.0
|
3.2
|
3.4
|
3.6p
|
3.7
|
4.3
|
6.7
|
6.8
|
8.7
|
11.6
|
11.9
|
13.4
|
17.4
|
Inflation rates in %, measured by HICPs
|
Annual rates
|
12 month average rates4
|
Monthly rates
|
|
Apr 08
Apr 07
|
Mar 08
Mar 07
|
Feb 08
Feb 07
|
Jan 08
Jan 07
|
Apr 07
Apr 06
|
Apr 08-07
Apr 07-06
|
Apr 08
Mar 08
|
|
Belgium (BE)
|
4.1
|
4.4
|
3.6
|
3.5
|
1.8
|
2.5
|
0.2
|
|
Germany (DE)5
|
2.6
|
3.3
|
3.0
|
2.9
|
2.0
|
2.6
|
-0.3
|
|
Ireland (IE)
|
3.3
|
3.7
|
3.5
|
3.1
|
2.9
|
3.1
|
0.1
|
|
Greece (EL)
|
4.4
|
4.4
|
4.5
|
3.9
|
2.6
|
3.5
|
0.8
|
|
Spain (ES)
|
4.2
|
4.6
|
4.4
|
4.4
|
2.5
|
3.5
|
1.1
|
|
France (FR)
|
3.4
|
3.5
|
3.2
|
3.2
|
1.3
|
2.3
|
0.4
|
|
Italy (IT)
|
3.6
|
3.6
|
3.1
|
3.1
|
1.8
|
2.5
|
0.6
|
|
Cyprus (CY)
|
4.3
|
4.4
|
4.7
|
4.1
|
1.6
|
3.2
|
1.2
|
|
Luxembourg (LU)
|
4.3
|
4.4
|
4.2
|
4.2
|
2.5
|
3.3
|
0.5
|
|
Malta (MT)
|
4.1
|
4.3
|
4.0
|
3.8
|
-1.1
|
1.9
|
2.3
|
|
Netherlands (NL)
|
1.7p
|
1.9
|
2.0
|
1.8
|
1.9
|
1.7p
|
0.4p
|
|
Austria (AT)
|
3.4p
|
3.5
|
3.1
|
3.1
|
1.8
|
2.7p
|
0.3p
|
|
Portugal (PT)
|
2.5
|
3.1
|
2.9
|
2.9
|
2.8
|
2.5
|
0.3
|
|
Slovenia (SI)
|
6.2
|
6.6
|
6.4
|
6.4
|
2.9
|
5.0
|
0.7
|
|
Finland (FI)
|
3.3
|
3.6
|
3.3
|
3.5
|
1.5
|
2.3
|
0.2
|
|
Eurozone (MUICP)
|
3.3p
|
3.6
|
3.3
|
3.2
|
1.9
|
2.6p
|
0.3p
|
|
Bulgaria (BG)
|
13.4
|
13.2
|
12.2
|
11.7
|
4.4
|
10.1
|
0.7
|
|
Czech Republic (CZ)
|
6.7
|
7.1
|
7.6
|
7.9
|
2.7
|
4.8
|
0.4
|
|
Denmark (DK)
|
3.4
|
3.3
|
3.3
|
3.0
|
1.7
|
2.2
|
0.4
|
|
Estonia (EE)
|
11.6
|
11.2
|
11.5
|
11.3
|
5.6
|
8.8
|
1.0
|
|
Latvia (LV)
|
17.4
|
16.6
|
16.5
|
15.6
|
8.8
|
13.0
|
1.6
|
|
Lithuania (LT)
|
11.9
|
11.4
|
10.9
|
10.0
|
4.9
|
8.0
|
1.3
|
|
Hungary (HU)
|
6.8
|
6.7
|
6.7
|
7.4
|
8.7
|
7.3
|
0.6
|
|
Poland (PL)
|
4.3
|
4.4
|
4.6
|
4.4
|
2.2
|
3.4
|
0.4
|
|
Romania (RO)
|
8.7
|
8.7
|
8.0
|
7.3
|
3.8
|
6.4
|
0.5
|
|
Slovakia (SK)
|
3.7
|
3.6
|
3.4
|
3.2
|
2.0
|
2.4
|
0.3
|
|
Sweden (SE)
|
3.2
|
3.2
|
2.9
|
3.0
|
1.6
|
2.2
|
0.5
|
|
United Kingdom
(UK)
|
3.0
|
2.5
|
2.5
|
2.2
|
2.8
|
2.2
|
0.8
|
|
EU (EICP)
|
3.6p
|
3.8
|
3.5
|
3.4
|
2.2
|
2.8p
|
0.4p
|
|
Iceland (IS)
|
10.7
|
6.8
|
4.5
|
3.1
|
4.2
|
3.9
|
3.9
|
|
Norway (NO)
|
2.7
|
2.8
|
3.1
|
2.9
|
0.5
|
1.4
|
0.0
|
|
EEA (EEAICP)
|
3.6p
|
3.7
|
3.5
|
3.4
|
2.2
|
2.8p
|
0.4p
|
|
Switzerland (CH)6
|
2.3
|
2.5
|
2.3
|
2.5
|
0.5
|
1.5
|
0.9
|
Source:
Eurostat p = provisional
Eurozone inflation rates in % for main components, measured by
HICPs
|
Weight used in 2008
|
Annual rates
|
12 month average
rates4
|
Monthly rates
|
|
Eurozone (MUICP)
|
|
Apr 08
Apr 07
|
Mar 08
Mar 07
|
Feb 08
Feb 07
|
Jan 08
Jan 07
|
Apr 07
Apr 06
|
Apr 08-07
Apr 07-06
|
Apr 08
Mar 08
|
|
00 All-items
|
1000.0
|
3.3p
|
3.6
|
3.3
|
3.2
|
1.9
|
2.6p
|
0.3p
|
|
01 Food
|
157.8
|
6.0p
|
6.2
|
5.8
|
5.4
|
2.5
|
3.9p
|
0.5p
|
|
02 Alcohol and tobacco
|
37.2
|
3.2p
|
3.1
|
3.0
|
2.9
|
3.7
|
3.2p
|
0.3p
|
|
03 Clothing
|
68.3
|
0.8p
|
1.0
|
1.0
|
0.5
|
1.4
|
0.9p
|
2.5p
|
|
04 Housing
|
153.0
|
4.8p
|
4.4
|
4.0
|
4.0
|
2.5
|
3.2p
|
0.6p
|
|
05 Household equipment
|
70.1
|
2.2p
|
2.2
|
2.1
|
2.0
|
1.4
|
1.9p
|
0.2p
|
|
06 Health
|
40.5
|
1.6p
|
1.6
|
1.5
|
2.0
|
2.2
|
1.6p
|
0.3p
|
|
07 Transport
|
156.6
|
4.8p
|
5.6
|
5.4
|
5.6
|
1.4
|
3.8p
|
0.3p
|
|
08 Communications
|
32.9
|
-1.6p
|
-1.5
|
-3.1
|
-2.9
|
-2.2
|
-1.9p
|
-0.1p
|
|
09 Recreation and culture
|
96.8
|
-0.4p
|
0.6
|
0.0
|
0.1
|
0.0
|
0.1p
|
-1.6p
|
|
10 Education
|
10.4
|
3.6p
|
9.6
|
9.6
|
9.4
|
9.2
|
8.8p
|
0.1p
|
|
11 Hotels and restaurants
|
92.8
|
3.2p
|
3.6
|
3.3
|
3.2
|
3.1
|
3.3p
|
0.2p
|
|
12 Miscellaneous
|
83.6
|
2.4p
|
2.4
|
2.3
|
2.2
|
2.3
|
2.3p
|
0.2p
|
|
All-items
-excl. energy
|
901.9
|
2.5p
|
2.8
|
2.5
|
2.4
|
2.1
|
2.3p
|
0.2p
|
|
-excl. energy, FoodAlcTob*
|
706.8
|
1.6p
|
2.0
|
1.8
|
1.7
|
1.9
|
1.9p
|
0.2p
|
|
-excl. energy, unproc. food
|
825.8
|
2.4p
|
2.7
|
2.4
|
2.3
|
1.9
|
2.2p
|
0.2p
|
|
-excl. energy, seas. food
|
862.6
|
2.4p
|
2.7
|
2.5
|
2.4
|
2.0
|
2.2p
|
0.2p
|
|
-excl. tobacco
|
977.4
|
3.3p
|
3.6
|
3.3
|
3.2
|
1.8
|
2.6p
|
0.3p
|
|
Energy
|
98.1
|
10.8p
|
11.2
|
10.4
|
10.6
|
0.4
|
5.8p
|
1.0p
|
|
FoodAlcTob*
|
195.0
|
5.4p
|
5.6
|
5.2
|
4.9
|
2.7
|
3.8p
|
0.5p
|
Source:
Eurostat * FoodAlcTob = Food, alcohol and tobacco p =
provisional
Measures of inflation
The
annual rate measures the
price change between the current month and the same month of the
previous year. This measure is responsive to recent changes in
price levels but can be influenced by one-off effects in either
month.
The
12-month average rate4
overcomes this volatility by comparing average Harmonized
Indices of Consumer Prices (HICPs) in the latest 12 months to
the average of the previous 12 months. This measure is less
sensitive to transient changes in prices.
The
monthly rate compares
price levels between the two latest months. Although up-to-date,
it can be affected by seasonal and other effects.
The
impact of a particular
component measures the change in the headline inflation due to
the inclusion of that component in the HICP. The impact takes
account of both the weight and whether the inflation for that
component is higher or lower than the all-items inflation rate.
For example, the impact of ‘tobacco’ is equal to the difference
between the all-items inflation rate and the rate for ‘all-items
excluding tobacco’. Impacts are not strictly additive.
HICPs designed for international comparison
Harmonized
Indices of Consumer Prices (HICPs) are harmonized inflation
figures required under Article 121 of the Treaty of Amsterdam
(109j of the Treaty on European Union). They are designed for
international comparison of consumer price inflation. The focus
is on quality and comparability among the indices of different
countries as well as on their relative movements.
Price changes
as measured by the HICPs, the Monetary Union Index of Consumer
Prices (MUICP), the European Index of Consumer Prices (EICP) and
the European Economic Area Index of Consumer Prices (EEAICP) are
used as measures of inflation in the Member States, in the
Eurozone, in the European Union, and in the European Economic
Area.
The MUICP is
used by, among others, the European Central Bank (ECB) as a main
indicator for monetary policy management for the Eurozone.
The Member
States’ HICPs are supplied by the National Statistical
Institutes; the MUICP, EICP and EEAICP are compiled by Eurostat.
The HICP is computed as an annual chain index allowing weights
to be changed each year. HICP aggregates are calculated as
weighted averages of the HICP
