Eurozone Annual Inflation Stands at 2.8% in January

Eurostat, the statistical office of the European Union, released inflation data for the Eurozone and the European Union (EU) for the month of January.

Reported by Ata Ufuk Şeker, the annual inflation in the Eurozone declined from 2.9% in December to 2.8% in January. The Consumer Price Index (CPI) in January saw a monthly decrease of 0.4%.

Market expectations for January’s annual inflation in the Eurozone were 2.8%, with a monthly decrease of 0.4%. The released data aligns with market expectations.

In the EU, the annual inflation, which was 3.4% in December, decreased to 3.1% in January. The EU’s CPI in January showed a monthly decrease of 0.2%.

Analyzing the main components of inflation in the Eurozone, the highest annual inflation, at 1.73%, occurred in services. It was followed by 1.13% for food, alcohol, and tobacco products, 0.53% for non-energy industrial goods, while energy products decreased by 0.62%.

According to harmonized data for the EU, the inflation rates in January were reported as follows: Romania 7.3%, Estonia 5%, Croatia 4.8%, Poland 4.5%, Slovakia 4.4%, Austria 4.3%, Bulgaria 4%, Hungary and Malta 3.7%, Spain 3.5%, and Sweden 3.4%.

source: / prepared by Melisa Beğiç

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