The year-on-year inflation rate in the euro zone fell in January, and for the third consecutive month, to 8.5%, compared with 9.2% in December 2022, according to a preliminary estimate by Eurostat.
The decline is mainly due to another sharp decline in the annual energy inflation rate (from 25.5% in December to 17.2% in January).
Considering the remaining components of the indicator, food, alcohol and tobacco registered an annual inflation rate of 14.1% (13.8% in December), non-energy industrial goods 7.3% (7.2%) and services of 4.2% (4.4% in December). ).
Among the 20 eurozone countries for which data are available, the highest annual inflation rates, as measured by the Harmonized Index of Consumer Prices (HICP), were observed in Latvia (21.6%), followed by Estonia ( 18.8%) and Lithuania. (18.4%).
Spain and Luxembourg (5.8% each) and Malta (6.7%) had the lowest inflation rates in January, with Portugal registering 8.6%, according to the estimate.
The annual inflation rate in the euro area has accelerated since June 2021, mainly due to the rise in energy prices, reaching record values since November 2021, reaching a maximum of 10.6% in October 2022 and registering the first decline in the next month
Source: TSF
