Greece records lowest annual inflation rate in EU

Greece records lowest annual inflation rate in EU 1

Greece records the lowest annual inflation rate within the European Union whilst the highest rates were recorded in Hungary, Poland and Luxembourg according to figures are published by Eurostat.

According to Eurostat the euro area annual inflation rate was 2.0% in May 2021, up from 1.6% with Greece recording -1.2%, Malta +0.2% and Portugal +0.5%. The highest annual rates were recorded in Hungary (5.3%), Poland (4.6%) and Luxembourg (4.0%).
Compared with April, annual inflation fell in four Member States, remained stable in one and rose in twenty-two.

In May, the highest contribution to the annual euro area inflation rate came from energy (+1.19 % ), followed by services (+0.45 %), non-energy industrial goods (+0.19 %) and food, alcohol & tobacco (+0.15 %).

READ: EU Commission expects 4.1% economic growth in 2021, 6% in 2022 – Greek City Times