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Annual inflation in Europe hit a record 5.1%

At the end of January 2022, annual inflation in Europe amounted to 5.1%. This is reported by the European statistical agency Eurostat.

According to analysts' final estimates, the inflation rate coincided with the previous estimate, which was made in January. At the same time, core annual inflation showed a decrease by 0.3% to 2.3%.

Inflation increased most noticeably in Lithuania, where the increase was 12.3%. Following are Estonia (11%) and the Czech Republic with 8.8%. Least of all prices rose in France (3.3%), Portugal (3.4%) and Sweden (3.9%).

In January, it was reported that annual inflation in 19 eurozone countries, according to preliminary estimates, accelerated to 5.1%. The indicator became a record for the entire existence of the zone - from January 1, 1999. It is specified that a month earlier inflation was 5%. Although analysts expected inflation to slow to 4.4%.

Most of all, energy carriers have influenced the acceleration of inflation in the European Union. According to Eurostat, their prices increased by 28.6% in January 2022 against 25.9% in December. Prices for food products, alcohol, tobacco also increased - inflation amounted to 3.6% after 3.2% in December 2021.

Annual inflation in Europe hit a record 5.1%