The national CPI percentage of 10.2% is higher than that of the large neighboring countries such as France (6.5%), Germany (8.2%), Italy (8.5%) or Portugal (9%).
Prices continue to run wild across Europe. Inflation for the month of June rose to 9.6% in the European Union (EU), more than a point higher than in May, and to 8.6% in the eurozone countries, half a point more. The data released by Eurostat on Tuesday confirms that Spain is above average, with inflation hitting the INE at 10.2% in June.
In this way, prices in Spain are at a higher level than those of its European partners, with France (6.5%), Germany (8.2%), Italy (8.5%) or Portugal (9%) having very high rates, but all below those 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%) is putting more pressure on the European Central Bank (ECB) to propose a rate hike that will curb interest rates. The war in Ukraine, which does not seem to end in the short term, is affecting the price increases due to the rise in energy prices, but also the lack of raw materials such as imported grains from Russia and Ukraine, which drive up any bottle that costs .
According to Eurostat data, energy in the eurozone has become 42% more expensive compared to June 2021, a rate 3.4 points higher than in April. In fresh food, they are up 11.2% since a year ago, the highest level to date.
Eurozone core inflation – not including fresh food or energy – stood at 4.6% in June, up from 0.9% a year ago. At this rate, too, Spain is outperforming the average record, with an underlying interest rate of 5.5% in June, almost a point more than the surrounding countries.
However, Spain is not the European country with the highest inflation. It is surpassed by others, such as Estonia, which had the highest percentage in the EU at 22%; Lithuania (20.5%), Latvia (19.2%), 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%).
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
