Euro Area Inflation Rate Confirmed at -0.2%

Eurozone annual inflation rate was recorded at -0.2 percent in December, matching preliminary estimates. It is the first fall in consumer prices since September of 2009, due to a drop in energy cost.

The biggest downward impacts on euro area annual inflation came from fuels for transport (-0.53 percentage points), heating oil (-0.17 pp) and telecommunications (-0.08 pp), while restaurants & cafés and rents (+0.11 pp each) and tobacco (+0.07 pp) had the largest upward impacts.

In December 2014, negative annual rates were observed in sixteen Member States. The lowest annual rates were registered in Greece (-2.5 percent), Bulgaria (-2.0 percent), Spain (-1.1 percent) and Cyprus (-1.0 percent). The highest annual rates were recorded in Romania (1.0 percent), Austria (0.8 percent) and Finland (0.6 percent). Compared with November 2014, annual inflation fell in twenty-six Member States, remained stable in Sweden and rose in Estonia.

European Union annual inflation was -0.1 percent in December 2014, down from 0.3 percent in November. A year earlier the rate was 1.0 percent.

 Euro Area Inflation Rate Confirmed at -0.2%

Eurostat | Joana Taborda |
1/16/2015 10:19:49 AM