Inflation in the eurozone continued to accelerate in June, hitting another record high. Compared to the same month last year, consumer prices increased by 8.6 percent. But how high is your personal inflation? With a practical online calculator from the Federal Statistical Office, you can find out your own rate of inflation.
Inflation in the euro zone has never been so high since the introduction of the common currency as book money in 1999. Inflation has risen steadily since last summer, with record levels repeatedly being reached recently. The war in Ukraine and the tough corona measures in China have exacerbated price increases. The latter also led to problems in the global supply chains.
Inflation was again driven by the sharp increase in energy prices, which rose by 42 percent compared to the same month last year. Food and beverages were 8.2 percent more expensive than a year ago. Other goods (4.3 percent) and services (3.4 percent) rose below average, but also significantly.
Personal inflation calculator provides exciting results
The extent to which an individual household is affected by inflation always depends on how much money it spends on which goods. For example, if you don’t have a car, you won’t spend money on fuel and vehicle maintenance – but these are part of the consumer price index basket.
The Federal Statistical Office has put a personal inflation calculator online in which consumers can enter their individual expenses for rent, travel expenses and groceries, for example. This allows you to calculate how much your personal inflation rate differs from the official one.
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Because the inflation rate is an average value that does not necessarily do justice to individual consumers and their shopping behavior. There are also psychological factors: According to statisticians, there are prices that consumers perceive particularly strongly. These are mainly goods that you buy regularly, such as groceries. The “perceived” inflation can therefore deviate from the official rate.