Economic Buzz: ECB Says Soaring Housing Costs Add To Overall Eurozone Inflation

16 Feb 2022 , 03:16 PM

Eurozone housing costs jumped sharply last year, boosted by soaring German property prices and adding to already uncomfortably high overall inflation, a European Central Bank study showed today. Housing costs are mostly excluded from headline inflation figures. While housing costs do not deviate significantly from overall price changes over several decades, they would have added to inflation for most of the past decade and would have lifted inflation in the third quarter of last year by just over 0.3%. Developments in the last few quarters are mostly explained by the sharp increase in Germany, the ECB said in an Economic Bulletin article.

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