Consumer Price Index (CPI) in the Eurozone increased to 2.9 percent on an annual basis in December.
The European Statistical Office (Eurostat) published the December inflation data of the Eurozone and the European Union (EU).
According to data, annual inflation in the Eurozone, which was 2.4 percent in November, reached 2.9 percent in December. CPI increased by 0.2 percent on a monthly basis in December.
Market expectations were that annual inflation in the Eurozone would be 2.9 percent and monthly inflation would be 0.2 percent in December. It was noteworthy that the announced data was in line with market expectations.
In the EU, annual inflation, which was 3.1 percent in November, increased to 3.4 percent in December. CPI in the EU increased by 0.1 percent on a monthly basis in December.
When we look at the main components of inflation in the Eurozone, the highest annual inflation was in services with 1.74 percent. While services were followed by food, alcohol and tobacco products with 1.21 percent, and non-energy industrial products with 0.66 percent, energy products decreased by 0.68 percent.
According to EU compatible data, inflation in December was 7.6 percent in the Czech Republic, 7 percent in Romania, 6.6 percent in Slovakia, 6.2 percent in Poland, 5.7 percent in Austria, 5 percent in Hungary, 5, 5.4 percent in Croatia, 5 percent in Bulgaria, 4.1 percent in France, 3.8 percent in Germany and 3.3 percent in Spain.
