Energy remains biggest driver, followed by food, alcohol and tobacco, services, according to Eurostat
Euro area annual inflation spiked to 8.6% in June, the highest level on record,the European Union’s statistics office reported on Tuesday.
The figure marked a significant jump from 8.1% in May and 1.9% in June 2021.
“In June, the highest contribution to the annual euro area inflation rate came from energy (4.19 percentage points), followed by food, alcohol and tobacco (1.88 pp), services (1.42 pp) and non-energy industrial goods (1.15 pp),” read a Eurostat update.
Annual inflation in the European Union, meanwhile, spiked to 9.6% in June. It was 8.8% in May and 2.2% in June 2021.
The lowest annual rates were registered in Malta (6.1%), France (6.5%) and Finland (8.1%), while the highest were in Estonia (22.0%), Lithuania (20.5%) and Latvia (19.2%).
On a monthly basis, consumer inflation increased 0.8% in the euro area and 0.9% in the EU.