Inflation in Europe shoots up to 9.6% in June, with Spain in the lead

Inflation in Europe shoots up to 9.6% in June, with Spain in the lead

A. Gorriz

The national CPI rate, of 10.2%, exceeds that of the large neighboring countries such as France (6.5%), Germany (8.2%), Italy (8.5%) or Portugal (9%). )

Edurne Martinez

Prices continue to run wild throughout Europe. The inflation rate for the month of June has shot up to 9.6% in the European Union (EU), more than one point above that of May, and up to 8.6% in the countries of the eurozone, half a point more. The data published this Tuesday by Eurostat confirm that Spain is above the average, with an inflation that the INE marks at 10.2% in June.

In this way, prices in Spain are at a higher level than that of its European partners, with France (6.5%), Germany (8.2%), Italy (8.5%) or Portugal (9 %) with very high rates but all below that of our country in June. Above are countries like Belgium (10.5%), Greece (11.6%) or Poland (14.2%).

High inflation in the eurozone (8.6%) puts more pressure on the European Central Bank (ECB) to propose a rise in interest rates that contains the rate. The war in Ukraine, with no sign of ending in the short term, is affecting the rise in prices due to the rise in energy prices but also due to the lack of raw materials such as cereal imported from Russia and Ukraine, which generates some bottle that drive up costs.

According to Eurostat data, energy has become 42% more expensive compared to June 2021 in the eurozone, a rate 3.4 points higher than that registered in April. On the fresh food side, they have risen by 11.2% since a year ago, the highest level recorded so far.

The core inflation rate in the eurozone - which does not include fresh food or energy - stood at 4.6% in June, up from 0.9% just a year ago. In this rate, Spain also exceeds the average record, with an underlying rate of 5.5% in the month of June, almost one point more than the surrounding countries.

Even so, Spain is not the European country with the highest inflation. It is surpassed by others such as Estonia, which marked the highest rate in the EU, with 22%; Lithuania (20.5%), Latvia (19.2%), the Czech Republic (16.6%), Poland (14.2%), Hungary (12.6%) or Croatia (12.1%). The European countries with the lowest inflation in June were Malta (6.1%), France (6.5%), Finland (8.1%) and Germany (8.2%).

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