EU annual inflation up in March to 1.7%

By Aysu Bicer

ANKARA (AA) - Annual inflation in the EU was 1.7% in March, up from 1.3% in February, the bloc’s statistical office said on Friday.

The figure for the same month last year was 1.2%, according to Eurostat.

The euro area annual inflation rate was 0.9% last month, stable compared to January.

In March, the biggest contribution to the annual euro area inflation rate came from services, followed by energy, food, alcohol and tobacco, and non-energy industrial goods.

Compared to February, annual inflation fell in 3 member states, remained stable in three, and rose in 21.

The countries with the lowest inflation rates were Greece (-2.0%), Portugal, Malta, Ireland and Slovenia (all 0.1%).

On the other hand, the highest annual rates were seen in Poland (4.4%), Hungary (3.9%), Romania, and Luxembourg (both 2.5%), according to Eurostat data.

The eurozone/euro area, or EA19, represents member states that use the single currency – euro – while the EU27 includes all member countries of the bloc.