Current location:Culture Clutch news portal > world
Eurozone inflation slows to 8.5 pct in January: Eurostat
Culture Clutch news portal2024-05-22 04:21:59【world】2People have gathered around
IntroductionPeople shop at a store with discount signs in Berlin, Germany, on Feb. 1, 2023. Annual inflation in
People shop at a store with discount signs in Berlin, Germany, on Feb. 1, 2023. Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau. (Photo by Stefan Zeitz/Xinhua)
BRUSSELS, Feb. 1 (Xinhua) -- Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau.
Inflation in the eurozone peaked at 10.6 percent last October and has been slowly decreasing since then.
Energy prices remain the main driver of the eurozone's annual inflation rate, with a 17.2 percent increase compared to January 2022 (25.5 percent in December 2022), followed by prices of food, alcohol and tobacco with a year-on-year increase of 14.1 percent in January (13.8 percent in December 2022).
"The drop from 9.2 percent to 8.5 percent is faster than expected," Bert Colijn, senior economist for the eurozone at ING, explained. Food inflation remains stable at 14.1 percent, but energy drives the rate down at the start of the year. The drop from 25.5 percent to 17.2 percent reflects lower market prices and significant negative base effects, he said.
The year-on-year increase in energy prices peaked last October at 41.5 percent. Since then, energy prices have been decreasing.
Price ceilings for energy had an effect, according to Colijn, who expects energy prices to decline further. "In recent days, both the Brent oil price in euros and natural gas market prices have declined year-on-year, which will put more downward pressure on consumer prices in the coming months."
The Baltic countries projected the highest inflation rates for January: 21.6 percent for Latvia, 18.8 percent for Estonia, and 18.4 percent for Lithuania.
The countries with the lowest annual inflation rate include Spain and Luxembourg, both with 5.8 percent, as well as France with 7 percent.
However, data for Germany for January 2023 were not available in time for publication by Eurostat due to technical data processing issues, Colijn noted. ■
A woman visits a store with discount signs in Berlin, Germany, on Feb. 1, 2023. Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau. (Photo by Stefan Zeitz/Xinhua)
A price board is seen at a gas station in Berlin, Germany, on Feb. 1, 2023. Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau. (Photo by Stefan Zeitz/Xinhua)
People walk past a store in Berlin, Germany, on Feb. 1, 2023. Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau. (Photo by Stefan Zeitz/Xinhua)
People visit a shopping mall in Berlin, Germany, on Feb. 1, 2023. Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau. (Photo by Stefan Zeitz/Xinhua)
A woman walks past a store with discount signs in Berlin, Germany, on Feb. 1, 2023. Annual inflation in the eurozone is projected to fall to 8.5 percent in January from 9.2 percent in December 2022, according to a flash estimate published on Wednesday by Eurostat, the European Union's (EU) statistical bureau. (Photo by Stefan Zeitz/Xinhua)
Address of this article:http://vietnam.arandomquote.com/html-57f099867.html
Very good!(65)
Related articles
- Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
- China's UN envoy hailed as he leaves office
- HK rallies behind new ordinance
- Nations push for safe development of nuclear energy
- Lynn Williams breaks NWSL goal
- Beijing slams Washington on illegal claims of demarcation of seabed
- Xi calls for closer ties with Vietnam
- HK chief vows to boost national security education, economy
- Nadal returns to Roland Garros to practice amid doubts over fitness and form
- Xizang celebrates 65 years of democratic reform
Popular articles
Recommended
Sale continues dominant run as Braves beat Padres 3
China, Indonesia set to deepen ties
Indonesian president
Blinken claiming that China is spreading disinformation is in itself disinformation: Chinese FM
Forensic psychiatrist reveals the different types of stalkers
Israeli killing of aid workers condemned by international community
Pressure mounts on Israel to spare Rafah
Xi meets U.S. guests
Links
- Free child care from higher taxes? These cities subsidize daycare
- Lilly rides Mounjaro, Zepbound to better
- Ralph Lauren goes minimal for latest fashion show, with muted tones and a more intimate setting
- Rhod Gilbert shares cancer update as he admits he's 'pinching himself' over performing stand
- Denise Welch confirms she's moved house after knife
- Calling a female colleague a 'pretty woman' at work is sex discrimination, tribunal rules
- 2 men are charged with cutting down famous 150
- Lilly rides Mounjaro, Zepbound to better
- Chilling moment masked thug calmly prepares himself before stabbing a stranger with a 10
- EMMA COWING: Humza Yousaf's obsession with gender politics showed an absolute contempt for women