Eurozone annual December inflation confirmed at 9.2%

On monthly basis, consumer prices in euro area fell 0.4%, final reading shows

15:22 . 18/01/2023 Wednesday
File photo

File photo

The euro area's annual December consumer inflation rate was confirmed to be 9.2%, according to final data released on Wednesday by the bloc's statistical agency.

The figure fell from 10.1% in November, but was well above 5% recorded in December 2021, showed the data from Eurostat.

"In December, the highest contribution to the annual euro area inflation rate came from food, alcohol and tobacco (up 2.88 percentage points), followed by energy (2.79 percentage points), services (1.83 percentage points) and non-energy industrial goods (1.70 percentage points)," read the statement.

On a monthly basis, consumer prices fell 0.4% from November 2022, revised downwards from the flash estimate of a 0.3% drop.

Annual consumer inflation in the EU was still at double-digits though, hitting 10.4% in December, down from 11.1% in November.

The lowest annual inflation rate was reported by Spain with 5.5%, Luxembourg with 6.2%, and France with 6.7%, while prices rose the most in Hungary (25%), Latvia (20.7%), and Lithuania (20%).

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