Continuing its upward trend, annual energy inflation in the European Union reached 27% in January 2022, one percentage point (pp) higher than in November 2021, according to data released by Eurostat, the EU’s statistical office, on Friday 25 February.
From -11% in May 2020, energy inflation has been positive, increasing almost continuously from March 2021.
At 27%, energy inflation is at its highest level since the first publication of the Harmonised Index of Consumer Prices (HICP) in 1997.
Prior to the sharp rise in energy prices starting in 2021, the highest point was recorded in July 2008, with an annual energy inflation rate of 17%.
This inflation is mainly due to the increase in gas prices. Gas thus reached its highest point in January 2022, at almost 41%, an increase of 13.5 pp compared to the previous month.
Inflation rates for fuels (including petrol, diesel, liquid fuels and other fuels) and electricity reached 26% (-2.8 pp) and 24% (+3.1 pp) respectively.
Among the EU Member States, Belgium (67%) and the Netherlands (58%) recorded the highest energy inflation rates in January 2022, followed by Lithuania (43%), Estonia (41%) and Greece (40%). At the other end of the scale, energy inflation was 0% in Malta, followed by Croatia and Portugal, both with 12%.
See the data: https://aeur.eu/f/ip (Original version in French by Damien Genicot)