Which European country has the highest inflation rate?

Which European country has the highest inflation rate?

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 inflation rate in Japan?

Current Japan inflation rate The inflation rate year over year is 2.4% (compared to 2.4% for the previous month). Inflation from April 2022 to May 2022 was 0.3%.

What does Eurostat use to measure inflation?

Both the CPI and the HICP are used to measure consumer inflation.

What are 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 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.

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.

What is China’s current 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 the inflation rate in Russia?

The inflation rate for consumer prices in Russia moved over the past 28 years between 2.9% and 874.2%. For 2021, an inflation rate of 6.7% was calculated. During the observation period from 1993 to 2021, the average inflation rate was 63.3% per year. Overall, the price increase was 371,892.06 %.

What is Germany’s inflation rate?

Prices in Germany have increased by 7.9% this month, the highest amount since reunification. Germany’s inflation rate reached 7.9% in May, according to data published by the German statistical agency Destatis. The preliminary figures were based on the consumer price index and compared with prices from May 2021.

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 so high UK?

Why is the rate of inflation in the UK so high now? There is more than one reason why the rate of inflation is currently so high. It started to rise in 2021, in large part due to increased spending on goods during the Covid crisis.

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.

What country is inflation the worst?

With an inflation rate that has soared above one million percent in recent years, Venezuela has the highest inflation rate in the world.

Why is inflation so high Europe?

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.

Is U.S. inflation worse than other countries?

Among major economies, one country was hit the worst – the United States. Prices jumped at an annual rate of 4.7% last year – faster than any other country in the Group of Seven (G7) advanced economies, according to the Organisation for Economic Cooperation and Development (OECD).

What is inflation Canada?

Canada’s inflation rate inches up again, to new 31-year high of 6.8% | CBC News.

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%.