Business Inflation in the euro area fell to 0.3 percent...

Inflation in the euro area fell to 0.3 percent in April

Eurostat has calculated that annual inflation in the EU will drop to 0.7 percent. Food, alcohol and tobacco, on the other hand, became more expensive, and energy prices fell. Several countries are experiencing deflation.

Luxembourg / Vienna.
Annual inflation (HICP) in the euro area fell to 0.3 percent in April, a month heavily affected by coronavirus containment measures, compared to 0.7 percent in March, according to the European statistics agency Eurostat. A year earlier, it was 1.7 percent.

According to Eurostat, the annual inflation rate in the European Union was 0.7 percent in April 2020, compared to 1.2 percent in March. In April 2019 it was 1.9 percent.

Compared to March, annual inflation fell in twenty-six Member States and remained unchanged in one. The lowest annual rates were reported to the statistics authority of Slovenia (minus 1.3 percent), Cyprus (minus 1.2 percent), Estonia and Greece (both minus 0.9 percent). The Czech Republic (3.3 percent), Poland (2.9 percent) and Hungary (2.5 percent) recorded the highest annual rates.

In Austria, inflation fell from 1.6 percent in March 2020 to 1.5 percent in April, as Statistics Austria also announced on the basis of its monthly calculations of the consumer price index (CPI).

The highest contribution to annual inflation in April came from the euro area from food, alcohol and tobacco (plus 0.67 percentage points), followed by services (plus 0.52 percentage points), non-energy industrial goods (plus 0.09 percentage points) and energy (minus 0.97 percentage points).

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