Romania’s annual inflation rate is below that of Poland (14.2%), Hungary (14.7%), Bulgaria (14.9%) and the Czech Republic (17.3%). Only Slovakia had a lower rate, of 12.8%. Nevertheless, Romania’s inflation rate remains one of the highest in the EU, placing the country eighth among the 27 EU countries.
The highest annual rates were recorded in Estonia (23.2%), Latvia (21.3%) and Lithuania (20.9%). The lowest annual rates were registered in France, Malta (both 6.8%), Finland (8.0%), Sweden (8.3%), Italy (8.4%) and Germany (8.5%).
The annual inflation rate in the EU was 9.8% in July 2022, up from 9.6% in June 2022 and from 2.5% in July 2021.
The euro area annual inflation rate was 8.9% in July 2022, up from 8.6% in June 2022 and from 2.2% in July 2021.
In July 2022, the highest contribution to the annual euro area inflation rate came from energy (+4.02 percentage points, pp), followed by food, alcohol & tobacco (+2.08 pp), services (+1.60 pp) and non-energy industrial goods (+1.16 pp).
The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.