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The important core rate of inflation, which does not take into account the highly volatile prices for energy and food, rose again from 5.3 to 5.6 percent. This is the highest value since the introduction of the euro.
The core rate of inflation shows the extent to which inflation from the energy price shock has spread throughout the economy. Core inflation is the most important benchmark for the interest rate decisions of the European Central Bank, which aims for an inflation rate of two percent.
Inflation rates in the euro zone vary greatly
The highest inflation rates in the European currency area are in Latvia at 20 percent and the other Baltic states at 17 percent. Inflation is lowest in small Luxembourg at 4.8 percent, followed by Spain at 6.1 percent and Greece at 6.5 percent. With an inflation rate of 9.3 percent, Germany is slightly above the average in the European calculation.
In the fight against inflation, the European Central Bank (ECB) will raise interest rates again after its own announcement in mid-March. The interest rate at which banks can borrow money from the ECB in the short term is currently three percent. The interest rate at which banks can invest money with the ECB is currently 2.5 percent.
Higher interest rates are seen as a tried and tested tool in the fight against inflation. However, they only affect prices with a delay, slow down the already ailing economy and burden debtors, including highly indebted countries, with additional costs.
read too
The inflation rate in the euro zone fell slightly in February from 8.6 to 8.5 percent. It was the fourth straight decline.
Food has replaced energy as the biggest price driver in Europe, according to the statistics agency Eurostat in an initial estimate.
Inflation in the euro zone is lowest in Luxembourg, Spain and Greece, and highest in the Baltic countries. Germany is in the middle with 9.3 percent.
The inflation rate in the euro zone fell minimally from 8.6 percent to 8.5 percent in February. This was announced by the statistics office Eurostat on Thursday in a first estimate. This was the fourth consecutive decline. The inflation rate in the euro zone peaked in October at 10.6 percent.
Prices in Europe in February were mainly driven by food. They rose in price by 15 percent after 14 percent in the previous month. On the other hand, energy prices fell from 18.9 to 13.7 percent. Food has thus replaced energy as the biggest price driver.
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The important core rate of inflation, which does not take into account the highly volatile prices for energy and food, rose again from 5.3 to 5.6 percent. This is the highest value since the introduction of the euro.
The core rate of inflation shows the extent to which inflation from the energy price shock has spread throughout the economy. Core inflation is the most important benchmark for the interest rate decisions of the European Central Bank, which aims for an inflation rate of two percent.
Inflation rates in the euro zone vary greatly
The highest inflation rates in the European currency area are in Latvia at 20 percent and the other Baltic states at 17 percent. Inflation is lowest in small Luxembourg at 4.8 percent, followed by Spain at 6.1 percent and Greece at 6.5 percent. With an inflation rate of 9.3 percent, Germany is slightly above the average in the European calculation.
In the fight against inflation, the European Central Bank (ECB) will raise interest rates again after its own announcement in mid-March. The interest rate at which banks can borrow money from the ECB in the short term is currently three percent. The interest rate at which banks can invest money with the ECB is currently 2.5 percent.
Higher interest rates are seen as a tried and tested tool in the fight against inflation. However, they only affect prices with a delay, slow down the already ailing economy and burden debtors, including highly indebted countries, with additional costs.
read too