In December 2019, the euro area annual inflation rate was 1.3%, compared to 1.0% in November. Compared to the previous year, the rate was 1.5%. Additionally, the European Union annual inflation was reported at 1.6% in December 2019, compared to 1.3% in November. Compared to the previous year, the rate was 1.6% according to the statistical office of the European Union (Eurostat).

Portugal (0.4%), Italy (0.5%) and Cyprus (0.7%) registered the lowest annual rates. Additionally, the highest annual rates were reported in Hungary (4.1%), Romania (4.0%), Czechia and Slovakia (both 3.2%). In comparison with November , annual inflation declined in two Member States, remained unchanged in three and rose in twenty-three.

The largest contribution to the annual euro area inflation rate in December 2019 was services (+0.80 percentage points, pp), followed by food, alcohol & tobacco (+0.38 pp), non-energy industrial goods (+0.12 pp) and energy (+0.02 pp).

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