Inflation in Malta tops 6%, but still lowest in the EU

The euro area annual inflation rate reached a staggering 8.6% in June 2022, up from 8.1% in May, Eurostat said today.

A year earlier, the rate was 1.9%. European Union annual inflation was 9.6% in June 2022, up from 8.8% in May. A year earlier, the rate was 2.2%.

The lowest annual rates were registered in Malta (6.1%), France (6.5%) and Finland (8.1%). The highest annual rates were recorded in Estonia (22.0%), Lithuania (20.5%) and Latvia (19.2%). Compared with May, annual inflation fell in two Member States and rose in twenty-five.

In June, the highest contribution to the annual euro area inflation rate came from energy (+4.19 percentage points, pp), followed by food, alcohol & tobacco (+1.88 pp), services (+1.42 pp) and non-energy industrial goods (+1.15 pp).