Euro-area inflation expected to fall to 1.2% in April from 1.7% in March: European Commission

BRUSSELS , April 30, 2013 (press release) –

Euro area1 annual inflation2 is expected to be 1.2% in April 2013, down from 1.7% in March3, according to a flash estimate4 from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in April (2.9% compared with 2.7% in March), followed by services (1.1% compared with 1.8% in March), non-energy industrial goods (0.8% compared with 1.0% in March) and energy (-0.4% compared with 1.7% in March).

Euro area annual inflation and its components, %

 

Weight (‰)

2013

Apr 2012

Nov 2012

Dec 2012

Jan 2013

Feb 2013

Mar 2013

Apr 2013

All-items HICP

1000.0

2.6

2.2

2.2

2.0

1.8

1.7p

1.2e

Food, alcohol & tobacco

193.7

3.1

3.0

3.2

3.2

2.7

2.7p

2.9e

Energy

109.6

8.1

5.7

5.2

3.9

3.9

1.7p

-0.4e

Non-energy industrial goods

273.6

1.3

1.1

1.0

0.8

0.8

1.0p

0.8e

Services

423.0

1.7

1.6

1.8

1.6

1.5

1.8p

1.1e

All-items excluding:

> energy, food, alcohol & tobacco

696.7

1.6

1.4

1.5

1.3

1.3

1.5p

1.0e

> energy

890.4

1.9

1.8

1.8

1.8

1.6

1.8p

1.4e

Source: Eurostat e = estimate p = provisional

  1. The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

  2. Annual inflation is the change of the price level between the current month and the same month of the previous year. For further information on the euro area inflation flash estimate, see the Statistics Explained article on the Eurostat website:

http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/Inflation_in_the_euro_area

  1. See News Release 60/2013 of 16 April 2013.

  2. The euro area inflation flash estimate is issued at the end of each reference month. The complete set of harmonised indices of consumer prices (HICP) for the euro area, EU and Member States is released around the middle of the month following the reference month. The next release with full data for April 2013 is scheduled for 16 May 2013.

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