January 07, 2021
Eurostat, the Statistical Office of the European Union estimated that the annual inflation for December 2020 will remained unchanged at -0.3% when compared to November 2020.
It was further noted that, “Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in December (1.4%, compared with 1.9% in November), followed by services (0.7%, compared with 0.6% in November), non-energy industrial goods (-0.5%, compared with -0.3% in November) and energy (-6.9%, compared with -8.3% in November).”
The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. The euro area data refer to the country composition at a specific point in time. Changes in the composition of the euro area are incorporated using a chain index formula.
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