The Czech Republic currently has the highest inflation in the European Union

The Czech Republic currently has the highest inflation in the European Union, according to Eurostat, the statistical arm of the EU.

Annual inflation in the EU fell to 0.7% in April from 1.2% in March and 1.7% in April last year. The Czech Republic’s annual inflation rate in April was 3.3%, which was down from 3.6% in March but up from 2.4% in April 2019.

Annual inflation in the eurozone was even lower, at 0.3% in April, down from 0.7% in March and 1.7% in April 2019.

“The lowest annual rates were registered in Slovenia (-1.3%), Cyprus (-1.2%), Estonia and Greece (both -0.9%). The highest annual rates were recorded in Czechia (3.3%), Poland (2.9%) and Hungary (2.5%). Compared with March, annual inflation fell in twenty-six Member States and remained stable in one,” Eurostat stated. The country that did not see a month-on-month drop was Italy.

Neighboring Slovakia had an annual inflation rate in April of 2.1%, while Germany was at 0.8% and Austria was at 1.5%. All three of those countries are part of the eurozone.

The EU statisticians gave a breakdown of the sectors boosting inflation in the eurozone countries. In April, the highest contribution to the annual inflation rate came from food, alcohol & tobacco, up 0.67 percentage points, followed by services, up 0.52 percentage points, non-energy industrial goods. Up 0.09 percentage points, and energy, down 0.97 percentage points.

Lower gasoline and diesel prices, which dropped by a record 10.5% compared to the previous month, brought prices down compared to the previous year, but there were increases in in other areas, such as food and non-alcoholic beverages. Fruit prices of fruit were higher by 24.7% and vegetable prices rose 11.8%, compared to the previous April.