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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email:

April 19, 2023

Year-over-year (March 2023 vs March 2022)

The inflation rate slowed to 8.3% in the European Union and  to 6.9% in the Euro Area in March 2023.

The fastest inflation was reported in Hungary (+25.6%), Latvia (+17.2%), and Czechia (+16.5%) and the lowest inflation rates were in Luxembourg (+2.9%), Spain (+3.1%) and the Netherlands (+4.5%).

Food price inflation increased to 19.6% in the European Union and to 17.9% in the Euro Area. 

Energy inflation slowed to 2.6% in the European Union and declined 0.9% in the Euro Area.

Excluding the impacts of energy, food, alcohol and tobacco prices inflation increased to 6.6% in the European Union and 5.7% in the Euro Area in March 2023.


 Source: Eurostat

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