Inflation in the eurozone in March reached 7.4%

Inflation in the eurozone rose to 7.4% in March, representing an increase of 1.5 percentage points compared to the previous month, as reported on Thursday by the Community Statistics Office, Eurostat.

In this way, Eurostat lowered its preliminary estimate issued earlier this month by one tenth, which placed inflation in the eurozone in March at 7.5%.

The Community Office recalled that inflation in the eurozone in the same month of 2021 stood at 1.3% and 1.7 in the European Union (EU) as a whole, where annual inflation in March was 7.8%, an increase of 1.6 percentage points compared to February.

In March, as in previous months, the largest contribution to the euro area's annual inflation rate came from energy (+4.36 percentage points).

Although more moderate, annual increases were also observed in services (+1.12 points), food, alcohol and tobacco (+1.07 points) and non-energy industrial goods (+0.90 points).

Lithuania was in March the country with the highest inflation (15.6 per cent), followed by Estonia (14.8 per cent) and the Czech Republic (11.9 per cent).

In contrast, the lowest annual rates were recorded in Malta (4.5%), France (5.1%) and Portugal (5.5%).

Spain stood at 9.8%.

The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

(With information from EFE)

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