{"id":13361,"date":"2022-06-01T11:39:49","date_gmt":"2022-06-01T08:39:49","guid":{"rendered":"https:\/\/ivankroshnyi.com\/?p=13361"},"modified":"2022-06-16T14:47:20","modified_gmt":"2022-06-16T11:47:20","slug":"hitting-record-levels-inflation-in-germany-spain-and-belgium","status":"publish","type":"post","link":"https:\/\/ivankroshnyi.com\/en\/hitting-record-levels-inflation-in-germany-spain-and-belgium\/","title":{"rendered":"Hitting Record Levels: Inflation in Germany, Spain, and Belgium"},"content":{"rendered":"<p style=\"font-size: 22px;\"><b>Content:<\/b><\/p>\n<p style=\"background-color: #ffffff; box-shadow: 0 0 7px #808080; border: 2px solid #808080; padding: 19px; border-radius: 6px; text-align: left;\">1. <a href=\"#1\"><span style=\"text-decoration: underline;\">Germany<\/span><\/a><br>2. <a href=\"#2\"><span style=\"text-decoration: underline;\">Spain<\/span><\/a><br>3. <a href=\"#3\"><span style=\"text-decoration: underline;\">Belgium<\/span><\/a><\/p>\n<p><a id=\"1\"><\/a>European countries are gradually releasing preliminary consumer price indices. The effects of rising spending are impacting the entire EU, with the poorest people in rich countries being hit hardest.<\/p>\n<h2 style=\"font-size: 22px;\">Germany<\/h2>\n<p>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).<\/p>\n<h3 style=\"font-size: 20px;\">Facts<\/h3>\n<p style=\"font-size: 18px;\"><strong>Here\u2019s the consumer price index as of May 2022:<\/strong><\/p>\n<p>\u2714+7.9% as of May 2021;<br>\u2714+0.9% as of April 2022.<\/p>\n<p style=\"font-size: 18px;\"><strong>Here\u2019s the harmonized index of consumer prices as of May 2022:<\/strong><\/p>\n<p>\u2714+8.7% as of May 2021;<br>\u2714+1.1% as of April 2022.<\/p>\n<h3 style=\"font-size: 20px;\">In a nutshell<\/h3>\n<p style=\"background-color: #ffffff; box-shadow: 0 0 7px #32CD32; border: 2px solid #32CD32; padding: 19px; border-radius: 6px; text-align: left;\"><strong>1.<\/strong> The May inflation rate rose by about one-tenth compared to its record high in April.<br><strong>2.<\/strong> This level is the highest since German reunification and is similar to that observed in 1973\/1974 after the oil crisis.<br><strong>3.<\/strong> The war in Ukraine and skyrocketing energy prices are the reasons for the record levels. Another factor is supply chain disruptions.<br><strong>4.<\/strong> Energy prices went up by 38.3% YoY. Food prices are above average (+11.1%).<br><strong>5.<\/strong> Germany\u2019s final results for May 2022 will be available on June 14, 2022.<\/p>\n<h3 style=\"font-size: 20px;\">About public transport and energy<\/h3>\n<p style=\"background-color: #ffffff; box-shadow: 0 0 7px #32CD32; border: 2px solid #32CD32; padding: 19px; border-radius: 6px; text-align: left;\"><strong>1.<\/strong> Since 2015, short-distance rail travel prices went up by 19% (more than overall consumer price growth: +16.2%).<br><strong>2.<a id=\"2\"><\/a><\/strong> Ticket prices for combined passenger transport services rose by 13%.<br><strong>3.<\/strong> Due to rising energy prices, the government intends to make short-distance public transport more attractive by introducing \u20ac9 temporary tickets.<\/p>\n<h2 style=\"font-size: 22px;\">Spain<\/h2>\n<p><strong>The annual inflation rate reached 8.7% in May (8.3% in April). Similarly, <\/strong><\/p>\n<p><a id=\"3\"><\/a>\u2714this 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%.<br>\u2714If the data is confirmed, it\u2019ll be the highest level since October 1995, i.\u0435., for 27 years.&nbsp;<\/p>\n<h2 style=\"font-size: 22px;\">Belgium<\/h2>\n<p><strong>The annual inflation rate reached 8.97% in May. <\/strong><\/p>\n<p>\u2714this level is the highest since August 1982, i.\u0435., 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>\n<p><strong>P.S. Today we\u2019re dealing with the Eurozone\u2019s statistics. The drop factors will be the same. There\u2019s only one question: how bad the figures are.<\/strong><\/p>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>European countries are gradually releasing preliminary consumer price indices. The effects of rising spending are impacting the entire EU, with the poorest people in rich countries being hit hardest.<\/p>\n","protected":false},"author":1,"featured_media":13526,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[171],"tags":[204,187],"class_list":["post-13361","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-en-en","tag-economics","tag-finance-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hitting Record Levels: Inflation in Germany, Spain, and Belgium - \u0418\u0432\u0430\u043d \u041a\u0440\u043e\u0448\u043d\u044b\u0439<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ivankroshnyi.com\/en\/hitting-record-levels-inflation-in-germany-spain-and-belgium\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hitting Record Levels: Inflation in Germany, Spain, and Belgium - \u0418\u0432\u0430\u043d \u041a\u0440\u043e\u0448\u043d\u044b\u0439\" \/>\n<meta property=\"og:description\" content=\"European countries are gradually releasing preliminary consumer price indices. 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