Cost Of Living Climbing For Expats In Europe

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The cost of living in the European Union climbed an average 1.6% in June – the same as the official data reported in May.

The year-on-year figure has fallen 0.5% from 2.1%, says Eurostat, the official EU data tracker.

The European Central Bank (ECB), whose monetary policy committee meets next week, targets a rate of close to but below 2%.

MCP members have expressed readiness to step in to support increasing inflation by raising interest rates.

Highest and lowest rates

The most expensive inflation rates are in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%).

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The lowest are in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%).

Across Europe, the cost of living rate dropped in 17 countries, was the same in one and increased in nine.

The highest contribution to annual eurozone inflation came from services (+0.73%), followed by food, alcohol & tobacco (+0.30%), energy (+0.17%) and non-energy industrial goods (+0.07%).

Inflation in the United states is running at an annual rate of 1.6% – up 0.1% from April, but down from 1.9% a year ago.

Read the full Eurostat report

European Union/Eurozone inflation rates – May 2019

  Annual rate Monthly rate
Eurozone 1.3% 0.2%
European Union 1.6% 0.1%
Belgium 1.3% -0.1%
Bulgaria 2.3% 0.0%
Czech Republic 2.4% 0.2%
Denmark 0.5% -0.3%
Germany 1.5% 0.3%
Estonia 2.6% 0.5%
Ireland 1.1% 0.2%
Greece 0.2% 0.6%
Spain 0.6% -0.1%
France 1.4% 0.3%
Croatia 0.5% 0.3%
Italy 0.8% 0.1%
Cyprus 0.3% 1.2%
Latvia 3.1% 0.3%
Lithuania 2.4% -0.3%
Luxembourg 1.5% -0.3%
Hungary 3.4% -0.2%
Malta 1.8% 1.3%
Netherlands 2.7% -0.1%
Austria 1.6% -0.1%
Poland 2.3% 0.2%
Portugal 0.7% 0.4%
Romania 3.9% -0.4%
Slovenia 1.9% 0.3%
Slovakia 2.7% 0.1%
Finland 1.1% 0.0%
Sweden 1.6% -0.2%
United Kingdom 1.9% 0.0%
Iceland 2.2% 1.6%
Norway 2.1% 0.1%
Switzerland 0.7% 0.2%

Source: Eurostat

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