The annual inflation rate fell again in December 2022 to 9.2% in the euro area, compared with 10.1% in November, according to a preliminary estimate by Eurostat.
According to the statistics service of the European Union, in December inflation fell for the second consecutive month, after 17 months registering increases and record values since November 2021.
The drop is mainly due to a drop in the energy sector’s annual inflation rate to 25.7% in December, compared to 34.9% in November.
Considering the remaining components of the indicator, food, alcohol and tobacco registered an annual inflation rate of 13.8% (13.6% in November), non-energy industrial goods 6.4% (6.1%) and services of 4.4% (4.2% in November). ).
Among the 19 euro countries (Croatia only joined in 2023), the annual inflation rate, measured by the Harmonized Index of Consumer Prices (HICP), fell in all of them, being the highest estimated in Latvia (20.7 %) and the lowest in Spain (5.6%).
In Portugal, the estimated annual inflation rate for December is 9.8%, compared to 10.2% in November.
The HICP measures inflation on a comparable basis between EU countries, therefore data are presented for these countries, as well as for the euro area and the EU as a whole.
Source: TSF
