Which country has the highest inflation rate in Europe?

Which country has the highest inflation rate in Europe?

Estonia is the worst-hit EU country by inflation which has reached a staggering 20 percent as it gets to grips with rising energy, food and rental prices. Other Baltic countries such as Lithuania and Latvia are not far behind with inflation rates hitting 18.9 percent and 16.9 percent respectively.

What is the current inflation rate in European countries?

Standard users can export data in a easy to use web interface or using an excel add-in….Inflation Rate | Europe.

Is Europe suffering inflation?

Inflation for the whole of the EU is expected to reach 6.8 per cent this year, as Russia’s war on Ukraine – and the breakdown of economic relations between Moscow and most of the rest of Europe – continues to hit economies.

Which countries are most affected by inflation?

Top 10 Countries with the Highest Inflation Rates (Trading Economics Jan 2022)

• Venezuela — 1198.0%
• Sudan — 340.0%
• Lebanon — 201.0%
• Syria — 139.0%
• Suriname — 63.3%
• Zimbabwe — 60.7%
• Argentina — 51.2%
• Turkey — 36.1%

Is UK inflation higher than Europe?

Documents to download Modelled figures indicate this is the highest rate of inflation for 40 years. UK inflation was 2.1% in May 2021. EU inflation was 8.8% in May, up from 8.1% in April. EU inflation was 2.3% in May 2021.

Why is French inflation so low?

The major difference is France’s use of nuclear power, which accounts for about 70 percent of the country’s electricity production and 40 percent of its overall energy consumption. This makes it less vulnerable to shocks arouns gas prices, which have soared against the backdrop of the war in Ukraine.

Why is UK inflation higher than Europe?

We believe that Brexit is the primary driver of the high and widening inflation differential between the UK and its European peers shown in the chart: Brexit has amplified the inflationary impact of a simultaneous common shock.

Do all EU countries have the same inflation?

Within the euro area, inflation rates can generally be expected to differ between countries for a number of reasons. 1 First, country-specific events may cause inflation rates in one country to deviate from those in the others.

Why Europe has high inflation?

Across the euro zone, the record annual consumer price increase was driven by soaring energy costs, which hit 39.2% (up from 37.5% in April) and a 7.5% increase in food, alcohol and tobacco prices (up from 6.3%). However, even without energy and food prices, inflation increased from 3.5% to 3.8%, Eurostat said.

What will Europe’s inflation be 2022?

Euro area annual inflation is expected to be 8.1% in May 2022, up from 7.4% in April according to a flash estimate from Eurostat, the statistical office of the European Union.

Which country has no inflation?

Yet, across the world, there are a handful of countries with the lowest inflation rates in 2022….Countries With the Lowest Inflation 2022.

Who has the worst inflation?

Among the countries studied, Turkey had by far the highest inflation rate in the first quarter of 2022: an eye-opening 54.8%. Turkey has experienced high inflation for years, but it shot up in late 2021 as the government pursued unorthodox economic policies, such as cutting interest rates rather than raising them.

Which country printed too much money?

Zimbabwe banknotes ranging from 10 dollars to 100 billion dollars printed within a one-year period. The magnitude of the currency scalars signifies the extent of the hyperinflation.

Why UK inflation is so high?

The inflation rate recorded for May 2022 was driven by the increasing costs of fuel and energy, after the energy price cap hike. Fuel, fashion, food prices and second hand cars have all contributed to the upwards pressure on inflation, while the price of raw materials is at its highest rate for 12 years.

What is the inflation rate in Germany?

WIESBADEN − The inflation rate in Germany, measured as the year-on-year change in the consumer price index (CPI), stood at +7.9% in May 2022. “The inflation rate thus reached an all-time high for the third month in a row since German reunification.

What is China’s inflation rate?

The inflation rate for consumer prices in China moved over the past 34 years between -1.4% and 24.3%. For 2021, an inflation rate of 1.0% was calculated. During the observation period from 1987 to 2021, the average inflation rate was 5.0% per year.