The European Union’s annual inflation rate remained stable in December 202 at -0.3 per cent.
This is the fourth consecutive month that the inflation rate was stable at -0.3 per cent. The Statistical Office of the European Union (Eurostat), which released the latest inflation numbers reported that this is a vast improvement over 2019.
Eurostat noted that a year earlier the inflation rate was 1.3 per cent. Additionally, the European Union annual inflation was reported at 0.3 per cent, which was greater than November 2020 rate of 0.2 per cent, relative to the previous year, when the rate was 1.6 per cent.
In comparison with November 2020, annual inflation declined in nine member states, remained stable in eight and rose in 10.
According to Eurostat, the lowest annual rates were observed in Greece (-2.4 per cent), Slovenia (-1.2 perd cent) and Ireland (-1.0 per cent). The highest annual rates were recorded in Poland (3.4 per cent), Hungary (2.8 per cent) and Czechia (2.4 per cent).
In comparison with November 2020, annual inflation declined in nine member states, remained stable in eight and rose in 10.
Eurostat noted that the highest contribution to the annual euro area inflation rate in December 2020 came from services (+0.30 percentage points, followed by food, alcohol and tobacco (+0.25 percentage points), non-energy industrial goods (-0.14 percentage point) and energy (-0.68 percentage point).
A flash estimate of euro area inflation is issued at the end of each reference month. The euro area flash estimate for December 2020 was published on January 7, 2021.
The next flash estimate of Euro area inflation with data for January 2021 is scheduled for February 3, 2021.
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