Inflation in the eurozone continued to accelerate at a high level in July, reaching a record level. Compared to the same month of the previous year, consumer prices increased by 8.9 percent.
Euro area annual #inflation up to 8.9% in July https://t.co/RBDuHZVBcx pic.twitter.com/duErLqWyaM
– EU_Eurostat (@EU_Eurostat) August 18, 2022
What is inflation simply explained?
Another word for inflation is inflation. The inflation rate is expressed as a percentage. It indicates how much prices for goods and services have increased in a certain period of time – usually a year. When prices go up, money loses value.
Measuring inflation – the Harmonised Index of Consumer Prices (HICP)
The EU provides transparent information on inflation:
This interactive publication deals with inflation from a statistical point of view. It deals in detail with what inflation is and how it is measured by the statistical offices at national and European level. It helps to clarify the question to what extent inflation is a factor in the tasks of central banks and how the European Central Bank (ECB) monitors inflation. In addition, it provides reasons why perceived inflation may be higher or lower than the officially measured inflation rate.