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Eurostat: August 2010 - Euro area annual inflation down to 1.6%, EU down to 2.0%

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Euro area annual inflation was 1.6% in August 2010, down from 1.7% in July. A year earlier the rate was -0.2%. Monthly inflation was 0.2% in August 2010. EU annual inflation was 2.0% in August 2010, down from 2.1% in July. A year earlier the rate was 0.6%. Monthly inflation was 0.2% in August 2010. These figures come from Eurostat, the statistical office of the European Union.

Inflation in the EU Member States

In August 2010, the lowest annual rates were observed in Ireland (-1.2%), Latvia (-0.4%) and Germany (1.0%), and the highest in Romania (7.6%), Greece (5.6%) and Hungary (3.6%). Compared with July 2010, annual inflation rose in ten, remained stable in nine and fell in eight Member States. The lowest 12-month averages up to August 2010 were registered in Ireland (-2.3%), Latvia (-2.0%), Portugal and Slovakia (both 0.3%), and the highest in Hungary and Romania (both 5.0%) and Greece (3.5%).

Euro area

The main components with the highest annual rates in August 2010 were alcohol & tobacco and transport (both 3.3%) and housing (2.6%), while the lowest annual rates were observed for communications (-0.5%), recreation & culture (-0.1%) and clothing (0.2%). Concerning the detailed sub-indices, fuels for transport (+0.31 percentage points), heating oil (+0.13) and vegetables (+0.08) had the largest upward impacts on the headline rate, while garments (-0.08) and telecommunications (-0.07) had the biggest downward impacts. The main components with the highest monthly rates were clothing (1.8%), recreation & culture, hotels & restaurants and miscellaneous goods & services (0.3% each), while the lowest were food (-0.2%), health (-0.1%) and transport (0.0%). In particular, garments (+0.09 percentage points) had the largest upward impact, while fruit and fuels for transport (-0.04 each) had the biggest downward impacts.

Inflation rates in %, measured by HICPs

 

 

Annual rates

12 month average rates4

Monthly rates

 

Aug 10

Aug 09

Jul 10

Jul 09

Jun 10

Jun 09

May 10

May 09

Aug 09

Aug 08

Aug 10-09

Aug 09-08

Aug 10

Jul 10

Belgium (BE)

2.4

2.4

2.7

2.5

-0.7

1.2

2.0

Germany (DE)

1.0

1.2

0.8

1.2

-0.1

0.7

0.1

Ireland (IE)

-1.2

-1.2

-2.0

-1.9

-2.4

-2.3

0.2

Greece (EL)

5.6

5.5

5.2

5.3

1.0

3.5

-0.7

Spain (ES)

1.8

1.9

1.5

1.8

-0.7

1.0

0.3

France (FR)

1.6

1.9

1.7

1.9

-0.2

1.2

0.2

Italy (IT)

1.8

1.8

1.5

1.6

0.1

1.2

0.2

Cyprus (CY)

3.4

2.7

2.1

1.8

-0.9

1.7

0.9

Luxembourg (LU)

2.5

2.9

2.3

3.1

-0.2

2.2

1.0

Malta (MT)

3.0

2.5

1.8

1.8

1.0

1.0

1.0

Netherlands (NL)

1.2p

1.3

0.2

0.4

-0.1

0.6p

0.1p

Austria (AT)

1.6p

1.7

1.8

1.7

0.2

1.2p

0.3p

Portugal (PT)

2.0

1.9

1.1

1.1

-1.2

0.3

-0.1

Slovenia (SI)

2.4

2.3

2.1

2.4

0.1

1.8

0.1

Slovakia (SK)

1.1

1.0

0.7

0.7

0.5

0.3

-0.1

Finland (FI)

1.3

1.3

1.3

1.4

1.3

1.3

0.4

Euro area (MUICP)

1.6p

1.7

1.4

1.6

-0.2

1.0p

0.2p

Bulgaria (BG)

3.2

3.2

2.5

3.0

1.3

2.0

0.2

Czech Republic (CZ)

1.5

1.6

1.0

1.0

0.0

0.6

-0.3

Denmark (DK)

2.3

2.1

1.7

1.9

0.7

1.6

0.5

Estonia (EE)

2.8

2.8

3.4

2.8

-0.7

0.5

0.0

Latvia (LV)

-0.4

-0.7

-1.6

-2.4

1.5

-2.0

-0.7

Lithuania (LT)

1.8

1.7

0.9

0.5

2.2

0.8

-0.2

Hungary (HU)

3.6

3.6

5.0

4.9

5.0

5.0

-0.5

Poland (PL)

1.9

1.9

2.4

2.3

4.3

3.1

-0.3

Romania (RO)

7.6

7.1

4.3

4.4

4.9

5.0

0.2

Sweden (SE)

1.1

1.4

1.6

1.9

1.9

2.0

-0.1

United Kingdom (UK)

3.1

3.1

3.2

3.4

1.6

2.8

0.5

EU (EICP)

2.0p

2.1

1.9

2.0

0.6

1.5p

0.2p

Iceland (IS)

5.9

6.2

7.6

10.0

16.0

10.4

0.4

Norway (NO)

1.7

1.8

1.8

2.6

1.8

2.3

-0.4

EEA (EEAICP)

2.0p

2.1

1.9

2.0

0.6

1.6p

0.2p

Switzerland (CH)

0.2

0.4

0.5

1.0

-1.0

0.4

0.0

 

Source: Eurostat p = provisional

Euro area inflation rates in % for main components, measured by HICPs

 

 

Weight used in 2010

Annual rates

12 month average rates4

Monthly rates

Euro area (MUICP)

 

Aug 10

Aug 09

Jul 10

Jul 09

Jun 10

Jun 09

May 10

May 09

Aug 09

Aug 08

Aug 10-09

Aug 09-08

Aug 10

Jul 10

00 All-items

1000.0

1.6p

1.7

1.4

1.6

-0.2

1.0p

0.2p

01 Food

153.4

1.1p

0.8

0.2

-0.2

-1.2

-0.6p

-0.2p

02 Alcohol and tobacco

38.3

3.3p

3.3

3.7

4.4

4.5

4.1p

0.1p

03 Clothing

67.4

0.2p

0.7

0.6

0.4

0.4

0.3p

1.8p

04 Housing

154.2

2.6p

2.7

1.8

2.0

-1.3

0.5p

0.1p

05 Household equipment

71.0

0.5p

0.5

0.7

0.7

1.7

0.9p

0.2p

06 Health

42.6

0.8p

0.8

0.8

0.8

1.2

0.9p

-0.1p

07 Transport

153.0

3.3p

4.5

3.9

5.5

-3.2

3.1p

0.0p

08 Communications

32.6

-0.5p

-0.9r

-1.1

-1.1

-0.7

-0.7p

0.2p

09 Recreation and culture

96.7

-0.1p

-0.3

-0.2

-0.3

0.5

-0.1p

0.3p

10 Education

10.8

2.3p

1.7

1.7

1.7

0.6

1.6p

0.1p

11 Hotels and restaurants

93.2

1.3p

1.3

1.1

1.1

1.5

1.2p

0.3p

12 Miscellaneous

86.7

2.3p

2.2

2.2

2.0

2.2

2.1p

0.3p

All-items -excl. energy

904.4

1.1p

1.1

0.9

0.8

1.0

0.8p

0.2p

-excl. energy, FoodAlcTob*

712.7

1.0p

1.0

0.9

0.8

1.3

1.0p

0.4p

-excl. energy, unproc. food

831.4

1.0p

1.0

0.9

0.9

1.2

0.9p

0.3p

-excl. energy, seas. food

867.5

1.0p

1.0

0.9

0.8

1.2

0.9p

0.3p

-excl. tobacco

976.2

1.5p

1.7

1.3

1.5

-0.3

0.9p

0.2p

Energy

95.6

6.1p

8.1

6.2

9.2

-10.2

2.5p

-0.1p

FoodAlcTob*

191.7

1.5p

1.3

0.9

0.7

-0.1

0.3p

-0.2p

 

Source: Eurostat * FoodAlcTob = Food, alcohol and tobacco p = provisional

 

 

Euro area sub-indices with most important impacts

 

 

Weight (‰) 2010

Rate (%)

Impact (percentage points)

COICOP

August 10 / August 09

 

07.22

Fuels for transport

42.4

8.5p

0.31

04.53

Heating oil

7.7

18.2p

0.13

01.17

Vegetables

14.7

7.1p

0.08

02.20

Tobacco

23.8

4.7p

0.07

12.31

Jewellery and watches

5.3

11.4p

0.05

04.52

Gas

15.4

4.3p

0.04

09.11

Audio-visual equipment

4.7

-8.1p

-0.05

01.11

Bread and cereals

26.0

-0.2p

-0.05

01.12

Meat

36.1

0.1p

-0.06

07.11

Cars

38.9

0.1p

-0.06

08.2/3

Telecommunications

30.9

-0.7p

-0.07

03.12

Garments

49.7

-0.0p

-0.08

 

August 10 / July 10

 

 

 

03.12

Garments

49.7

2.2p

0.09

09.60

Package holidays

15.7

2.1p

0.03

07.33

Air transport

5.7

5.2p

0.03

11.20

Accommodation services

16.7

1.2p

0.02

03.21/2

Footwear

13.8

0.9p

0.01

05.11

Furniture

22.5

0.6p

0.01

04.53

Heating oil

7.7

-0.5p

-0.01

07.24

Misc. vehicle charges

10.1

-0.5p

-0.01

07.11

Cars

38.9

-0.4p

-0.02

01.17

Vegetables

14.7

-1.8p

-0.03

07.22

Fuels for transport

42.4

-0.6p

-0.04

01.16

Fruit

11.4

-3.0p

-0.04

 

Source: Eurostat p = provisional

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