Eurozone Inflation of 8.6 Percent

Eurozone Inflation of 8.6 Percent

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Inflation in the nineteen eurozone countries stood at 8.6 percent in June. The European Statistics Office confirmed its “flash estimate” from Tuesday’s beginning of this month.

 

The already high inflation continues to fuel. In May, consumer prices had risen annually by an average of 8.1 percent in the eurozone. As in previous months, energy prices (+42%) are the main driver of inflation. In addition, food, alcohol, and tobacco prices rose sharply (+8.9%).

Inflation across the European Union stood at 9.6 percent last month, compared to 8.8 percent in May.

According to Eurostat, inflation in Belgium was 10.5 percent in June. The European service uses a different calculation method than the Belgian statistical office Statbel, which estimated inflation at 9.65 percent in June, the highest level since October 1982.

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