The cost of living crisis is worse in 13 EU countries – is this ‘due to Brexit’?

We compared latest ONS figures (May 2023) to the EU27 countries

Montage © Facts4EU.Org 2023

13 EU countries had higher inflation and 7 were in double digits

The ‘cost of living crisis’ has been one of three main news stories recently, the other two being Huw Edwards and immigration. Accordingly we took a look at the latest inflation figures issued by the Office for National Statistics and the EU’s official statistics agency.

In the chart below we show the headline measures used by both organisations. In order to show a true comparison we have shown the month of May, because the UK and not all EU countries have yet to publish the figures for June.

Brexit Facts4EU.Org Summary

Headline annual inflation rate (CPIH), May 2023

  1. Hungary : 21.9%
  2. Czechia : 12.5%
  3. Poland : 12.5%
  4. Latvia : 12.3%
  5. Slovakia : 12.3%
  6. Estonia : 11.2%
  7. Lithuania : 10.7%
  8. Romania : 9.6%
  9. Austria : 8.8%
  10. Bulgaria : 8.6%
  11. Croatia : 8.3%
  12. Slovenia : 8.1%
  13. Italy : 8.0%
  14. United Kingdom : 7.9%

[Sources : Official EU statistics agency and the UK Office for National Statistics.]

© Brexit Facts4EU.Org 2023 - click to enlarge

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Around half the EU’s member countries have higher inflation than the UK

The EU’s and the UK’s statistics agencies each have headline measures of inflation, so Facts4EU.Org has followed suit. Our analysis shows that around half of the EU27 have inflation running at higher levels than in the UK.

Seven of these countries experienced double-digit inflation in May – far more than the UK’s 7.9%.

Even if you take the average of the inflation rates in all the 27 countries this is 7.8% – almost exactly the same as the UK’s rate.

Observations

We have seen many articles and comments on social media that the UK’s inflation rate is “due to Brexit”. We are therefore compelled to ask these people whether the higher inflation in almost half the EU is also “due to Brexit”?

Once again Facts4EU.Org has shown up the sheer absurdity of Remainer-Rejoiners blaming absolutely everything on Brexit.

We share the view of several independent economists that the Bank of England’s performance in managing inflation – its No.1 task - has been poor. This has nothing to do with Brexit.

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[ Sources: EU Commission | ONS ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Mon 17 Jul 2023

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