Euro area annual inflation up to 3.3%

Euro area annual inflation was 3,3% in February 2008, up from 3,2% in January, a year earlier the rate was 1,8%, monthly inflation was 0,3% in February 2008.

EU3 annual inflation was 3.4% in February 2008, unchanged compared to January. A year earlier the rate was 2.1%. Monthly inflation was 0.4% in February 2008.

These figures come from Eurostat, the Statistical Office of the European Communities.

Inflation in the EU Member States
In February 2008, the lowest annual rates were observed in the Netherlands (2.0%), Germany, Portugal and Sweden (2.9% each), and the highest in Latvia (16.5%), Bulgaria (12.2%) and Estonia
(11.5%). Compared with January 2008, annual inflation rose in fourteen Member States, remained stable in eight and fell in four.
The lowest 12-month averages4 up to February 2008 were registered in Malta (1.2%), the Netherlands (1.7%), Denmark, France, Finland and Sweden (1.9% each), and the highest in Latvia (11.6%),
Bulgaria (8.6%) and Estonia (7.8%).

Euro area
The main components with the highest annual rates in February 2008 were education (9.7%), food (5.8%) and transport (5.4%), while the lowest annual rates were observed for communications
(-3.1%), recreation & culture (0.0%) and clothing (1.0%). Concerning the detailed sub-indices, fuels for transport ( 0.50 percentage points), milk, cheese & eggs ( 0.23), heating oil
( 0.21) and bread & cereals ( 0.14) had the largest upward impacts on the headline rate, while telecommunications (-0.20), cars (-0.14) and garments (-0.11) had the biggest downward
impacts.
The main components with the highest monthly rates were recreation & culture (1.0%), clothing and hotels & restaurants (0.7% each), and the lowest were communications (-0.4%), health
(0.0%) and transport (0.1%). In particular, package holidays ( 0.07 percentage points), accommodation services ( 0.04) and garments ( 0.03) had the largest upward impacts, while vegetables
(-0.05), fuels for transport (-0.04) and telecommunications (-0.03) had the biggest downward impacts.

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