Chart of the day: Inflation hits Europe’s poorest


blog-euroinflate

From Eurostat [click on the image to enlarge]:

Euro area annual inflation is expected to be 2.0% in February 2017, up from 1.8% in January 2017, according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in February (9.2%, compared with 8.1% in January), followed by food, alcohol & tobacco (2.5%, compared with 1.8% in January), services (1.3%, compared with 1.2% in January) and non-energy industrial goods (0.2%, compared with 0.5% in January).

Note that the impacts will hit hardest on the poor, especially those soaring energy costs, which will mean higher prices for food, and still higher bills to heat and light homes use their cars for transportation to and from work — for those lucky enough to have jobs, especially in Greece and the other poorer nations hit hardest by the ongoing Great Recession.

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