Euro area inflation rate sits at 2.7 percent

Euro area inflation rate sits at 2.7 percent

2011-07-14 20:26:46 GMT+7 (ICT)

BRUSSELS (BNO NEWS) -- The annual inflation rate in the 17-country euro area was 2.7 percent in June, unchanged compared to the previous month but 1.2 percent higher than the 1.5 percent rate documented a year ago, the European Union (EU) said on Thursday.

According to information released by the EU's statistical office, Eurostat, the monthly inflation in the Euro area was 0 percent in June. However, the wider 27-nation region had an annual inflation of 3.1 percent that month, which represents a decrease from the previous month's 3.2 percent. A year earlier the rate was 1.9 percent, while monthly inflation was -0.1 percent.

The lowest annual rates in June were observed in Sweden (1.5 percent), Slovenia (1.6 percent) and the Czech Republic (1.9 percent), and the highest in Romania (8.0 percent), Estonia (4.9 percent) and Lithuania (4.8 percent).

Compared with May, annual inflation fell in fourteen EU Member States, remained stable in six and rose in six. The lowest 12-month averages up to June were registered in Sweden (1.5 percent), the Czech Republic and the Netherlands (both 1.8 percent), and the highest in Romania (7.8 percent), Estonia (4.7 percent) and Greece (4.6 percent).

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