The annual inflation rate in the EU27 was 4.3% in June 2008. Thus, inflation was still accelerating given that in May the rate was 4.0% and just 2.1% in June 2007. In the Eurozone annual inflation amounted to 4.0% in June this year as compared to 3.7% in May 2008 and 1.9% in June 2007.
Since May 2008 inflation increased by 0.4% in both the EU27 and the Eurozone. These figures were published today by Eurostat, the European Statistical Office.
Development in several countries
In June 2008 the lowest annual inflation rates were registered in the Netherlands (2.3%), Germany and Portugal (3.4% each), the highest in Latvia (17.5%), Bulgaria (14.7%) and Lithuania (12.7%). Annual inflation rates increased in 21 member states, remained unchanged in two of them and fell in three EU member states in the one-month period since May 2008.
The lowest average rates over a 12-months-period were registered in the Netherlands (1.7%), Great Britain (2.4%), Denmark and Sweden (2.6% each) while the highest ones were to be found in Latvia (14.5%), Bulgaria (11.7%) and Estonia (9.7%).