Hitting Record Levels: Inflation in Germany, Spain, and Belgium
Based on currently available data, Federal Statistical Office (Destatis) reports that the inflation rate will go up by 7.9% in May 2022 (+7.4% in April).
Here’s the consumer price index as of May 2022:
✔+7.9% as of May 2021;
✔+0.9% as of April 2022.
Here’s the harmonized index of consumer prices as of May 2022:
✔+8.7% as of May 2021;
✔+1.1% as of April 2022.
In a nutshell
About public transport and energy
The annual inflation rate reached 8.7% in May (8.3% in April). Similarly,
✔this growth is associated with higher prices for fuel, food, and non-alcoholic beverages. The estimated annual core inflation rate (the total index excluding volatile food and energy prices) went up by five-tenths, reaching 4.9%.
✔If the data is confirmed, it’ll be the highest level since October 1995, i.е., for 27 years.
The annual inflation rate reached 8.97% in May.
✔this level is the highest since August 1982, i.е., for 40 years (it was 9.02% back then). Energy prices are the main factor (+56.8% year-on-year, amounting to 4.8 percentage points in total). The food inflation rate reached 6.32%.
P.S. Today we’re dealing with the Eurozone’s statistics. The drop factors will be the same. There’s only one question: how bad the figures are.