Euro area annual inflation increased to 5.0%

January 7, 2022

According to the statistical office of the European Union (Eurostat), in December 2021, the euro area annual inflation rate is expected to be 5.0%, 0.1% higher than the 4.9% booked in November 2021. However, it was noted that a year earlier the annual rate was -0.3% in December 2020.

Eurostat also noted, the main component that has the highest contribution to the annual euro area inflation rate in December 2021 is energy, which is expected to decrease from 27.5% in November to 26%, followed by food, alcohol & tobacco which is expected to climb to 3.2% from 2.2% reported in November. Non-energy industrial goods are estimated to increase to 2.9%, compared with 2.4% in November, and Services are projected to decrease to 2.4%, down from 2.7% in November.

The lowest annual rates were observed in Malta (2.6%), Portugal (2.8%), and Finland (3.2%). The highest annual rates were recorded in Estonia (12%), Lithuania (10.7%) and Latvia (7.7%). When compared with the previous month, during December 2020, among the Member states annual inflation was stable in two, decrease in four, and rose in thirteen.


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