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European Commission : September 2013 Euro area annual inflation down to 1.1% EU down to 1.3%

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10/16/2013 | 05:31am EST

STAT/13/148

16October 2013

September 2013
Euro area annual inflation down to 1.1%
EU down to 1.3%

Euro area1 annual inflation was 1.1% in September 20132, down from 1.3% in August. A year earlier the rate was 2.6%. Monthly inflation was 0.5% in September 2013.

European Union3annual inflation was 1.3% in September 2013, down from 1.5% in August. A year earlier the rate was 2.7%. Monthly inflation was 0.4% in September 2013.

These figures come fromEurostat,the statistical office of the European Union.

In September 2013, the lowest annual rates were observed in Bulgaria (-1.3%), Greece(-1.0%) andLatvia
(-0.4%), and the highest in
theUnited Kingdom(2.7%), Estonia(2.6%) and theNetherlands(2.4%). Compared with August 2013, annual inflation fell in seventeen Member States, remained stable in eight and rose in three. The lowest 12-month average rates up to September 2013 were registered in Greece(-0.2%), Latvia(0.5%) and Sweden(0.6%), and the highest in Romania(4.1%), Estonia(3.7%) and Croatia(3.3%).

The largest upward impacts to euro areaannual inflation came from tobacco (+0.10 percentage points), electricity (+0.09) and accommodation services (+0.08), while fuels for transport (-0.30), telecommunications (-0.15) and medical & paramedical services (-0.07) had the biggest downward impacts.

Annual inflation (%) in September 2013, in ascending order*

* Data for Austria are provisional.

Inflation rates4in %, measured by HICPs

Annual rate

12 month average rate*

Monthly rate

Sep13

Aug13

Jul13

Jun 13

Sep12

Sep13

Sep13

Belgium

1.0

1.1

1.6

1.5

2.6

1.5

-0.2

Germany

1.6

1.6

1.9

1.9

2.1

1.8

0.0

Estonia

2.6

3.6

3.9

4.1

4.1

3.7

-0.5

Ireland

0.0

0.0

0.7

0.7

2.4

0.9

-0.1

Greece

-1.0

-1.0

-0.5

-0.3

0.3

-0.2

2.5

Spain

0.5

1.6

1.9

2.2

3.5

2.3

0.8

France

1.0

1.0

1.2

1.0

2.2

1.2

-0.2

Italy

0.9

1.2

1.2

1.4

3.4

1.8

1.8

Cyprus

0.3

0.1

0.7

0.8

3.6

1.1

0.1

Luxembourg

1.5

1.7

1.8

2.0

3.2

2.1

0.4

Malta

0.6

0.7

0.9

0.6

2.9

1.6

-0.8

Netherlands

2.4

2.8

3.1

3.2

2.5

3.1

0.1

Austria

1.8p

2.0

2.1

2.2

2.8

2.4p

1.0p

Portugal

0.3

0.2

0.8

1.2

2.9

0.9

0.5

Slovenia

1.5

2.2

2.8

2.2

3.7

2.4

0.4

Slovakia

1.1

1.4

1.6

1.7

3.8

2.2

0.0

Finland

1.8

2.0

2.5

2.3

3.4

2.6

0.4

Euro area (MUICP)

1.1p

1.3

1.6

1.6

2.6

1.7p

0.5p

Bulgaria

-1.3

-0.7

0.0

1.2

3.4

1.3

-0.3

Czech Republic

1.0

1.2

1.4

1.6

3.5

1.8

-0.3

Denmark

0.2

0.1

0.4

0.6

2.5

0.9

0.3

Croatia

1.7

2.4

2.7

2.2

4.8

3.3

-0.2

Latvia

-0.4

-0.1

0.5

0.2

1.9

0.5

0.0

Lithuania

0.5

0.5

0.6

1.3

3.3

1.8

0.7

Hungary

1.6

1.6

1.7

2.0

6.4

2.9

0.5

Poland

0.9

0.9

0.9

0.2

3.8

1.4

0.1

Romania

1.1

2.6

3.4

4.5

5.4

4.1

-0.4

Sweden

0.5

0.8

0.8

0.5

1.0

0.6

0.4

United Kingdom

2.7

2.7

2.8

2.9

2.2

2.7

0.4

EU (EICP)

1.3p

1.5

1.7

1.7

2.7

1.9p

0.4p

Iceland

3.8

4.8

4.2

3.1

5.3

4.7

0.3

Norway

2.6

3.3

2.8

1.9

0.1

1.7

0.5

Switzerland

0.2

0.4

0.5

0.2

-0.3

0.0

0.5

Source: Eurostat p = provisional

* Average HICP of latest 12 months/average HICP of preceding 12 months.

Annual inflation (%) in the euro area and European Union

Euro area inflation rates in % for selected aggregates

Euro area (MUICP)

Weight (‰)

Annual rate

12-month
average rate

Monthly
rate

2013

Sep13

Aug13

Jul13

Jun 13

Sep12

Sep13

Sep13

All-items

1000.0

1.1p

1.3

1.6

1.6

2.6

1.7p

0.5p

All-items excluding:
> energy

890.4

1.4p

1.6

1.6

1.6

1.8

1.6p

0.5p

> energy, food, alcohol & tobacco

696.7

1.0p

1.1

1.1

1.2

1.5

1.2p

0.7p

> energy, unprocessed food

816.9

1.2p

1.3

1.3

1.3

1.6

1.4p

0.6p

> energy, seasonal food

852.7

1.3p

1.4

1.4

1.4

1.7

1.5p

0.6p

> tobacco

975.8

1.0p

1.2

1.5

1.6

2.6

1.7p

0.5p

Energy

109.6

-0.9p

-0.3

1.6

1.6

9.1

2.4p

0.5p

Food, alcohol and tobacco

193.7

2.6p

3.2

3.5

3.2

2.9

3.1p

-0.4p

Non-energy industrial goods

273.6

0.4p

0.4

0.4

0.7

1.2

0.8p

3.4p

Services

423.0

1.4p

1.4

1.4

1.4

1.7

1.5p

-0.9p

Source: Eurostat p = provisional

Sub-indices with largest impacts on euro area annual inflation5

Sub-index

Weight (‰)

Annual rate

Impact (percentage points)

2013

Sep13

Sep13

02.20

Tobacco

24.2

5.4p

0.10

04.51

Electricity

25.9

4.7p

0.09

11.20

Accommodation services

15.4

6.0p

0.08

06.21/3

Medical and paramedical services

11.3

-4.9p

-0.07

08.2/3

Telecommunications

29.4

-4.0p

-0.15

07.22

Fuels for transport

50.0

-4.4p

-0.30

Source: Eurostat p = provisional

  • The euro area inflation is measured by the Monetary Union Index of Consumer Prices (MUICP) as defined in Council Regulation (EC) No 2494/95 of 23 October 1995. The data refers to the euro area country composition at a specific point in time. New Member States are integrated into the MUICP using a chain index formula.

  • The euro area flash estimate for September 2013, published on 30 September 2013, was 1.1%.

  • The European Union (EU) inflation is measured by the European Index of Consumer Prices (EICP) as defined in Council Regulation (EC) No 2494/95 of 23 October 1995. The data refers to the EU country composition at a specific point in time. New Member States are integrated into the EICP using a chain index formula.

  • An annual ratemeasures the price change between a month and the same month of the previous year. A 12-month average ratecompares the average Harmonised Indices of Consumer Prices (HICPs) of the latest 12 months to the average of the preceding 12 months. A monthly ratecompares price levels between the two latest months.

  • An impactis a measure showing the change in the inflation due to the inclusion of a sub-index. The impact takes account of both the weight and whether the inflation for that sub-index is higher or lower than the all-items inflation rate.

Issued by: Eurostat Press Office

Tim ALLEN

Tel: +352-4301-33 444

eurostat-pressoffice@ec.europa.eu

For further information on methodology:

SvetoslavaPAVLOVA

Tel: +352-4301-34 406


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