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Euro Area Annual Inflation Surges to 7.4% in March

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close up of some 100 and 50 euro bills

The eurozone annual inflation rate stood at 7.4% in March, an increase from 5.9% and 1.35 in March 2021.

Source: Eurostat

EuroStoxx 50 up +1.32%, EURUSD up +0.35%

The inflation rate also jumped to 7.8%, from 6.2% in the previous month and 1.7% in the same month last year. Compared with February, annual inflation dropped in two member states and increased in twenty-five.

Eurostat stated that out of the year-on-year total, 4.36 percentage points was due to rising energy prices, while 1.12 points came from expensive services and 1.07 points from food, alcohol, and tobacco.

The lowest annual inflation rate was reported in Malta at 4.5%, followed by France (5.1%) and Portugal (5.5%0.

Meanwhile, the highest annual rates were reported by Lithuania (15.6%), Estonia (14.8%), and the Czech Republic (11.9%).

In March, the highest contributor to the annual euro area inflation was energy at 4.36 percentage points.

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