Eurozone Inflation Rate Confirmed At 1.8% In January

Consumer prices in the Euro Area increased 1.8 percent year-on-year in January of 2017, following a 1.1 percent rise in December and in line with preliminary estimates. It is the highest inflation rate since February of 2013, boosted by fuel and food prices. Excluding energy, food, alcohol and tobacco, core inflation remained steady at 0.9 percent. On a monthly basis, prices fell 0.8 percent.

The largest upward impacts to euro area annual inflation came from fuels for transport (0.5 percentage points), heating oil and vegetables (+0.14 pp) while gas (-0.08 pp), telecommunications (-0.09 pp) and bread and cereals (-0.05 pp) had the biggest downward impacts.

The highest annual rates were recorded in Belgium (3.1 percent), Latvia and Spain (both 2.9 percent) and Estonia (2.8 percent). By contrast, lowest annual rates were observed in Ireland (0.2 percent), Romania (0.3 percent) and Bulgaria (0.4 percent).

Core inflation which excludes energy, food, alcohol and tobacco was recorded at 0.9 percent, unchanged from the previous month. Excluding energy only, the inflation rate rose to 1.1 percent from 1 percent in the previous month.  

On a monthly basis, consumer prices fell by 0.8 percent after increasing by 0.5 percent in December. 

Eurozone Inflation Rate Confirmed At 1.8% In January

Eurostat | Yekaterina Guchshina |
2/22/2017 10:12:52 AM