Which country in Europe has highest inflation?

Which country in Europe has highest inflation?

As of May 2022, the inflation rate in the European Union was 8.8 percent, with prices rising fastest in Estonia, which had an inflation rate of 20.1 percent….

What are the inflation rates across Europe?

• Euro area annual inflation up to 8.1% 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. …
• Geographical information. …
• Methods and definitions. …
• Revisions and timetable. …
• For more information.

Is inflation rising in Europe?

Inflation came in at 8.1% for the month, according to preliminary figures Tuesday from Europe’s statistics office, up from April’s record high of 7.4% and above expectations of 7.8%. It comes after inflation prints from several major European economies surprised to the upside in recent days.

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.

Is inflation worse in US or Europe?

The U.S. has had about 3 percentage points more cumulative inflation than the euro area since the onset of the pandemic.

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.

Which country is facing highest inflation?

At the end of 2021, Venezuela had the highest inflation rate in the world, at 1,588 percent change compared to the previous year.

Does England have inflation?

The 9% rise in the consumer price index is the highest since records began in 1989, outstripping the 8.4% annual rise posted in March 1992 and well ahead of the 7% seen in March of this year.

What will Europe’s inflation be 2022?

It lowered its economic growth forecast for the eurozone in 2022 by 1.3 points to 2.7% and increased its inflation forecast by 3.5 points to 6.1%. Inflation for the whole of the EU is meanwhile expected to reach 6.8% this year.

Why is Switzerland inflation rate low?

Inflation has surged to levels not seen in decades due to rising commodity prices, supply chain bottlenecks and tight labour markets.

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.

Why is inflation in UK 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 country has lowest inflation rate?

The statistic lists the 20 countries with the lowest inflation rate in 2021. In 2021, Samoa ranked 1st with a negative inflation rate of about 3.02 percent compared to the previous year.

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.

What is Japan’s inflation rate?

Japan inflation hits 7-year high of 2.1% in April.

What is the UK inflation rate?

Current UK inflation rate The Consumer Price Index for United Kingdom is 120.8 for the month of May 2022. The inflation rate year over year is 9.0% (compared to 9.0% for the previous month). Inflation from April 2022 to May 2022 was 0.7%.