Euro area annual inflation stable at 2.7% EU stable at 2.9%

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Euro area annual inflation stable at 2.7% EU stable at 2.9%Euro area annual inflation was 2.7% in March 2012, unchanged compared with February. A year earlier the rate was 2.7%. Monthly inflation was 1.3% in March 2012.

EU annual inflation was 2.9% in March 2012, unchanged compared with February. A year earlier the rate was 3.1%. Monthly inflation was 1.1% in March 2012.

In March 2012, the lowest annual rates were observed in Sweden (1.1%), Greece (1.4%) and Bulgaria (1.7%), and the highest in Hungary (5.5%), Estonia (4.7%) and the Czech Republic (4.2%). Compared with February 2012, annual inflation fell in fourteen Member States, remained stable in four and rose in eight. Malta stood at 2.4%.

The lowest 12-month averages4 up to March 2012 were registered in Sweden (1.3%), Ireland (1.4%) and Slovenia (2.1%), and the highest in Estonia (4.9%), Romania (4.6%) and Hungary (4.3%). Malta stood at 2.2%.

The main components with the highest annual rates in March 2012 were transport (4.6%), alcohol & tobacco (4.4%) and housing (4.0%), while the lowest annual rates were observed for communications (-2.8%), recreation & culture (0.7%) and education (0.9%). Concerning the detailed sub-indices, fuels for transport (+0.36 percentage points), gas (+0.14) and heating oil (+0.08) had the largest upward impacts on the headline rate, while telecommunications (-0.18), rents (-0.08) and cars (-0.07) had the biggest downward impacts.

The main components with the highest monthly rates were clothing (16.0%), transport (1.3%) and household equipment (0.7%), while the lowest monthly rates were observed for recreation & culture (-0.4%), health, communications and education (0.0% each). In particular, garments (+0.74 percentage points), footwear (+0.15) and fuels for transport (+0.10) had the largest upward impacts, while restaurants & cafés (-0.09), rents (-0.08) and meat (-0.05) had the biggest downward impacts.

These figures come from Eurostat, the statistical office of the European Union.

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