Inflation for the eurozone peaked in October 2022 at 10.6%, dipped to 10.1% in November and now to 9.2% — the lowest it has been since August.
In December, energy prices in the eurozone were 25.7% higher than the same month the previous year — more than double the aggregate rate of inflation. However, in November they were 34.9% higher and in October 41.5% higher.
Eurostat posted an increase in the price of food, alcohol and tobacco (from 13.6% in November to 13.8% in December). Prices for other consumer goods in December increased by 5.2% in annual terms - compared with November, consumer prices for the past month decreased by 0.3%.
The inflation target of the European Central Bank (ECB) is 2%. On December 15, the ECB raised its base rate to 2.5% for the fourth time in a row.
More about:
