Inflation is (finally) back

According to the latest data from Eurostat, 2017 was marked by an abrupt rise in inflation throughout the EU.

According to the latest data from Eurostat, 2017 was marked by an abrupt rise in inflation throughout the EU. The average rise in prices, which was only 0.1 percent in June 2016, rose to 2 percent between February and April, dropping again to 1.7 percent at the end of December, the same level as in 2013. The most significant rise in inflation has been in the Baltic countries: Estonia and Lithuania reached 3.8 percent, while Latvia reached 2.2 percent.

In contrast, it was Cyprus that had the lowest inflation in 2017. After the peak throughout the EU in April 2017, Cyprus’s rate of inflation nevertheless dropped almost constantly, reaching -0.4 percent at the end of the year. Meanwhile, Germany all but mirrored the average rate for the EU.

Among the data used to establish the rate of inflation are energy costs – which reached their highest annual rate last December (2.9 percent, from 4.7 percent the previous month) – and also food, alcohol, tobacco and industrial goods.