Inflation in the eurozone in March set a record – 7.5%

According to the Statistical Office of the European Union Eurostat, consumer prices in the eurozone increased by 7.5% in annual terms in March 2022. This was the highest indicator in the entire history of calculations. Last month, annual inflation was 5.9%. Analysts predicted an average price increase of 6.6%. On a monthly basis, consumer prices rose by 2.5%. 

Consumer prices excluding the cost of energy, food and alcohol (CPI Core index) in March increased by 3% year-on-year after an increase of 2.7% in February.

Energy prices in March jumped by a record 44.7% compared to the same month of the previous year (+32% in February), the cost of industrial goods increased by 3.4% (+3.1% a month earlier).

The cost of food, alcohol and tobacco products increased by 5% after an increase of 4.3% in February. Services rose in price by 2.7% (+2.5% a month earlier).

The highest annual inflation was recorded in Lithuania (15.6%) and Estonia (14.8%). The lowest price growth was observed in Malta (4.6%) and France (5.1%).