Inflation diversity in euro area countries continues in June. The difference in price growth rates between the country with the highest and lowest inflation amounts to almost 16 percentage points. In Germany and the Netherlands, the pace of price increases slowed slightly in June.
Despite the sharp growth in recent months, it appears that inflation in the Euro area has still not reached its peak. Prices here rose by 8.6 percent year-on-year in June, which is half a percentage point more than in May, according to Eurostat’s preliminary estimate.
Estonian inflation exceeded twenty percent
Prices grew the fastest in Estonia, by exactly 22 percent. Conversely, the slowest in Malta (6.1) and France (6.5). In Germany and the Netherlands, on the other hand, inflation fell by half and 0.3 percentage points, respectively. In addition, the two mentioned countries were the only ones to experience a month-on-month drop in prices, by one tenth of a percentage point.
Energy continues to drive price growth
In June, energy prices were again at the forefront of price increases, the prices of which rose by almost 42 percent year-on-year. Unprocessed foods followed with more than 11 percent, while services prices rose the slowest, at 3.4 percent year-on-year. In a month-on-month comparison, energy prices also rose the fastest (by 3.3 percent), other industrial goods the slowest (0.2).
