Euro Area Inflation Rate at 5-1/2-Year Low

Eurozone annual inflation was -0.6 percent in January 2015, down from -0.2 percent in December, the lowest since July of 2009. Consumer prices in all member states except Malta and Austria decreased.

The largest downward pressure came from fuels for transport (-0.77 pp), heating oil (-0.24 pp) and telecommunications (-0.05 pp). The increses were reported for restaurants & cafés and rents (+0.14 percentage points each) and tobacco (+0.07 pp). 

Core inflation, which excludes prices of energy, food, alcohol and tobacco eased to 0.6 percent in January from 0.7 percent reported in previous three months.

On a monthly basis, consumer prices dropped 1.6 percent compared with 0.1 decrease reported in December. 

European Union annual inflation was -0.5 percent, down from -0.1 percent in December. Consumer prices declined in twenty-three Member States. The lowest annual rates were registered in Greece (-2.8 percent) and Bulgaria (-2.3 percent). Positive annual rates were recorded in Malta (0.8 percent), Austria and Romania (both 0.5 percent), Sweden (0.4 percent) and the United Kingdom (0.3 percent). Compared with December 2014, annual inflation fell in almost all Member States, except Cyprus, Malta and Sweden.

Euro Area Inflation Rate at 5-1/2-Year Low

Eurostat | Joana Taborda |
2/24/2015 10:57:27 AM