Euro Area Inflation Rate Down to 1.7% in March


Euro Area annual inflation was 1.7 percent in March 2013, down from 1.8 percent in February. A year earlier the rate was 2.7 percent. Monthly inflation was 1.2 percent in March 2013. European Union annual inflation was 1.9 percent in March 2013, down from 2.0 percent in February. A year earlier the rate was 2.9 percent. Monthly inflation was 0.9 percent in March 2013.

In March, the lowest annual rates were observed in Greece (-0.2 percent), Latvia (0.3 percent) and Sweden (0.5 percent), and the highest in Romania (4.4 percent), Estonia (3.8 percent) and the Netherlands (3.2 percent). Compared with February 2013,annual inflation fell in twenty Member States, remained stable in five and rose in one. The lowest 12-month average rates up to March 2013 were registered in Greece (0.6 percent), Sweden (0.8 percent) and Latvia (1.6 percent), and the highest in Hungary (4.9 percent), Estonia (4.0 percent) and Romania (3.9 percent).

The largest upward impacts to the euro area annual inflation came from electricity (+0.17 percentage points), package holidays (+0.12) and accommodation services (+0.09), while fuels for transport (-0.23), telecommunications (-0.22) and medical & paramedical services (-0.08) had the biggest downward impacts.
 

Eurostat | Nuno Fontes | nuno@tradingeconomics.com
4/16/2013 10:17:26 AM