Euro-zone annual inflation was 2.3% in August 2004, unchanged from July, Eurostat, the Statistical Office of the European Communities, reports today. A year earlier the rate was 2.1%. Monthly inflation was 0.2% in August 2004.
EU25 annual inflation was 2.3% in August 2004, unchanged from July. A year earlier the rate was 1.9%. Monthly inflation was 0.1% in August 2004.
Inflation in the Member States
In August 2004, the lowest annual rates were observed in Finland (0.3%), Denmark (0.9%), the Netherlands and Sweden (both 1.2%) and the United Kingdom (1.3%), and the highest rates were recorded in Latvia (7.8%), Hungary (7.2%), Slovakia (7.0%) and Poland (4.9%). Compared with July 2004, annual inflation rose in eight Member States, fell in eleven, and remained stable in six.
Lowest 12-month averages4 up to August 2004 were in Lithuania (-0.2%), Finland (0.4%), Denmark (1.0%), Sweden and the United Kingdom (both 1.3%); highest were in Slovakia (8.4%), Hungary (6.5%), Latvia (4.9%) and Slovenia (4.1%).
Euro-zone
The main components with the highest annual rates in August 2004 were alcohol and tobacco, and health (both 8.2%), while the lowest annual rates were observed for communication (-2.5%) and recreation and culture (0.2%). Specifically, fuels for transport had the largest upward impact on the headline rate (+0.30 percentage points), followed by tobacco (+0.27) and heating oil (+0.12), while telecommunication (-0.14), garments, cars and vegetables (-0.08 each) had the biggest downward impacts.
The main components with the highest monthly rates were transport (0.7%) and hotels and restaurants (0.5%), and the lowest were food (-0.7%) and communication (-0.2%). In particular, fuels for transport had the largest upward impact (+0.08 percentage points), followed by package holidays and heating oil (both +0.05), while fruit (-0.07) and vegetables (-0.05) had the biggest downward impacts.
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