The annual inflation rate in the EU and euro area in November 2021 jumped significantly, reaching record levels resulting from the increased price of energy while Croatia's inflation rate is just below the euro area average, the EU statistical office, Eurostat, reported on Friday.

The annual inflation rate in the European Union in November 2021 was a record 5.2%, up from 4.4% in October, whereas in the euro area it was 4.9% in November, up from 4.1% in October.

A year earlier, the rate in the EU was 0.2% and -0.3% in the euro area.

In November, the highest contribution to the annual euro area inflation rate came from energy, jumping by 27.5% in fact, Eurostat notes in its report.

The inflation rate accelerated in 26 EU member states, including Croatia, whereas prices remained stable only in the Czech Republic (4.8%).

Croatia alongside Cyprus

The highest annual rates by far were recorded in Lithuania (9.3%), Estonia (8.6%) and Hungary (7.5%).

Consumer prices in Croatia in November 2021 increased by 4.7% year on year, which is its highest inflation rate since September 2012, Eurostat’s figures show.

In October 2021 consumer prices increased by 3.9% whereas in November 2020 they stagnated on the year.

Only Cyprus recorded the same annual inflation rate. Inflation in the Czech Republic and Slovakia in November was 4.8% while in Slovenia it was 4.9%.

The lowest annual rates were registered in Malta (2.4%), Portugal (2.6%) and France (3.4%).