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Next Previous Energy and food further increase accuracy for households HOME • INSIDER • CYPRUS • Energy and food further increase accuracy for households
  I want Theopoulou
There is no stopping the rise in accuracy, with inflation rising every month, making life even harder for thousands of households and businesses and heightening concerns about where it might go. The harmonized consumer index in June was at 9.1%, down from 8.8% in May and 2.2% last year, according to Eurostat estimates released yesterday. In the Eurozone as a whole, inflation increased by half a point, compared to the previous month, to 8.6%, with energy still “burning” households and businesses more and more. Energy prices in the eurozone jumped 41.9% in June, from a year earlier and from a 39.1% rise in May.
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Cyprus still has inflation above the Eurozone average, although it is still among the countries that have a single-digit inflation rate. Eurostat calculates inflation based on the harmonized index of consumer prices, while the national index of consumer prices, which is compiled by the Statistical Office, will be announced next Thursday, July 7. Inflation based on the national index is generally higher than Eurostat's harmonized one and stood at 9.1% in May.
Baltic countries show the worst inflation performance at the Eurozone level. The harmonized consumer index in June was 22% in Estonia, followed by Lithuania at 20.5%, Latvia at 19% and Slovakia at 12.5%. The top five countries with high inflation are Greece with a rate of 12%, Slovenia with 10.8%, Belgium with 10.5% and Spain with 10%, while Portugal had an inflation rate of 9%. On the contrary, the lowest inflation levels (5.8%) are presented in France and Malta, two countries that have less energy dependence on Russia, while France also has cheaper electricity from nuclear energy. Germany is the only country in the Eurozone whose inflation rate fell to 8.2% in June, from 8.7% in May.
In the Eurozone, energy prices rose 41.9% in June on an annual basis, compared to an increase of 39.1% in May. After energy, the largest increases in June were recorded in the food, alcohol, tobacco group, with a rate of 8.9% from 7.5% in May. Prices of non-manufactured goods rose 4.3% from 4.2% and services by 3.4% from 3.5% in May, registering a slight slowdown. So-called core inflation, which excludes energy, food, alcohol and tobacco prices, eased to 3.7% from 3.8% in May, but the core inflation index, if only the prices of energy and food, increased 4.6% from 4.4%.
