More than 14 percent inflation in the Czech Republic
The inflation rate in some European countries is now over ten percent. Sharply rising prices for fuel, natural gas and food are a burden on consumers.
Massively rising prices, especially for energy and food, are meanwhile leading to double-digit inflation rates in individual EU countries. Current inflation data from several countries show no weakening of inflation. In the Czech Republic, consumer prices shot up by 14.2 percent year-on-year in April, the CSU statistics authority announced today.
The Czechs had to pay around 30 percent more for electricity than a year ago. In the case of natural gas, the price jump was as much as 44 percent. In the food trade, milk (plus 30 percent) and meat products (plus eleven percent) rose the most.
In order to fight inflation, the Czech National Bank recently tightened its course further and increased its key interest rate to 5.75 percent. The Czech Republic is not a member of the euro zone and has its own currency, the crown.
Greece and the Netherlands at the ten percent mark
In Greece, too, the inflation rate exceeded ten percent in April. According to the statistics authority Elstat, consumer prices here climbed by 10.2 percent, the highest level since 1995. In the Netherlands, inflation reached 9.6 percent. According to the statistics office CBS, higher prices for food such as meat, vegetables, coffee, beer or tea also play a greater role here – in addition to energy costs.
This means that inflation in Greece and the Netherlands is also well above the average in the euro area. According to preliminary data from Eurostat, a total of 7.5 percent inflation in April can be assumed in the countries with the common currency. The Federal Statistical Office expects a similar value for Germany with 7.4 percent inflation.
Denmark below average
Denmark currently has slightly below-average inflation in Europe. Here, consumer prices in April increased by 6.7 percent within a year – which was still the highest value since 1984. Here, too, the main reason is the economic consequences of the Russian attack on Ukraine. “For goods, the price increases for electricity, food, fuel and gas are very significant in April 2022,” according to the Danish Statistics Office.
