Euro area's annual inflation slips to 6.9% in Mar 2023: Eurostat

21 Apr '23

1 min read

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Insights

In March 2023, the euro area's inflation rate was 6.9 per cent, down from 8.5 per cent in February.
The EU's inflation rate was 8.3 per cent, down from 9.9 per cent in February. Luxembourg, Spain, and the Netherlands had the lowest rates, while Hungary, Latvia, and Czechia had the highest.
Annual inflation fell in 25 EU member states and rose in two.

The euro area’s annual inflation rate was 6.9 per cent in March 2023, down from 8.5 per cent in February, as per the Eurostat. A year earlier, the rate was 7.4 per cent. The European Union’s (EU) annual inflation was 8.3 per cent in March 2023, down from 9.9 per cent in February. A year earlier, the rate was 7.8 per cent.

The lowest annual rates were registered in Luxembourg at 2.9 per cent, Spain at 3.1 per cent, and the Netherlands at 4.5 per cent. The highest annual rates were recorded in Hungary at 25.6 per cent, Latvia at 17.2 per cent, and Czechia at 16.5 per cent. Compared with February, annual inflation fell in 25 member states and rose in two, according to figures published by Eurostat, the statistical office of the EU.

In March, non-energy industrial goods and energy contributed 1.71 percentage points and -0.05 percentage points, respectively, to the annual euro area inflation rate.

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