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Euro area annual inflation at 2.6%, EU 2.7% & Malta 2.9%

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Euro area annual inflation at 2.6%, EU 2.7% & Malta 2.9%Euro area annual inflation was 2.6% in September 2012, unchanged compared with August. A year earlier the rate was 3.0%. Monthly inflation was 0.7% in September 2012. Malta’s annual inflation rate stood at 2.9%.

EU annual inflation was 2.7% in September 2012, unchanged compared with August. A year earlier the rate was 3.3%. Monthly inflation was 0.6% in September 2012.

Inflation in the EU Member States

In September 2012, the lowest annual rates were observed in Greece (0.3%), Sweden (1.0%) and Latvia (1.9%), and the highest in Hungary (6.4%), Romania (5.4%) and Estonia (4.1%). Malta stood at 2.9%.

Compared with August 2012, annual inflation rose in eleven Member States, remained stable in five and fell in ten.

The lowest 12-month averages up to September 2012 were registered in Sweden (0.9%), Greece (1.6%) and Ireland (1.9%), and the highest in Hungary (5.3%), Estonia (4.3%) and Poland (4.1%). Malta stood at 2.9%

Euro area

The main components with the highest annual rates in September 2012 were transport (4.8%), housing (4.1%) and alcohol & tobacco (4.0%), while the lowest annual rates were observed for communications (-3.3%), education (0.5%), household equipment and recreation & culture (both 1.1%). Concerning the detailed sub-indices, fuels for transport (+0.41 percentage points), electricity (+0.10), gas and heating oil (+0.09 each) had the largest upward impacts on the headline rate, while telecommunications (-0.19), rents and cars (-0.07 each) had the biggest downward impacts.

The main components with the highest monthly rates were clothing (14.0%), household equipment and education (0.5% each), while the lowest monthly rates were observed for recreation & culture and hotels & restaurants (both -1.0%) and communications (-0.5%). In particular, garments (+0.66 percentage points), footwear (+0.14) and fuels for transport (+0.06) had the largest upward impacts, while package holidays (-0.16), accommodation services and air transport (-0.12 each) had the biggest downward impact.

These figures come from Eurostat, the statistical office of the European Union.

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