Economy & Politics

Inflation The EU countries with the highest inflation in April

In no EU country was the inflation rate higher in April than in the Czech Republic. Eurostat found a value of 3.3 percent. That was eleven times the average for the euro countries. But the trend is also downwards in the Czech Republic. Inflation has been falling steadily since the 3.8 percent high in January. The lowest inflation rate in the EU in Slovenia was in April at minus 1.3 percent. Image by Rudy and Peter Skitterians from Pixabay

Inflation is on the decline in the Covid 19 pandemic. The rate of inflation in the European Union fell to only 0.7 percent in April 2020. That was 1.2 percentage points less than in April 2019, according to the statistics agency Eurostat. In April, the first full month since government protection measures were imposed, inflation in the euro area was only 0.3 percent. The trend has continued since the beginning of the year. In January 2020, the inflation rate in the European Union was still 1.7 percent. In March the value dropped to 1.2 percent.

Inflation is falling in Europe

The main reason for the falling inflation rate is the drop in the price of mineral oil. Consumers in the euro area recently paid almost a tenth (minus 9.7 percent) less for energy than in April 2019. Without energy, the rate of inflation would have been 1.4 instead of 0.3 percent, as reported by Eurostat. However, not all European citizens benefit equally from lower prices. 11 of the 27 EU member states were above the average. Germany was one of them. At the top of this list, inflation was almost five times higher than the EU average.

So far, these countries have had the highest inflation rates in the EU during the Corona crisis.

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