The annual inflation rate in the euro area fell in January and for the third month in a row to 8.5%, compared to 9.2% in December 2022, according to a quick estimate by Eurostat.
The decline is mainly due to another strong year-on-year decline in energy inflation (from 25.5% in December to 17.2% in January).
Taking into account the remaining components of the indicator, food, alcohol and tobacco registered an annual inflation rate of 14.1% (13.8% in December), non-energy manufactured goods 7.3% (7.2%) and services 4.2% (4 .4% in December). ).
Among the 20 eurozone countries for which data are available, the highest annual inflation rate measured by the harmonized consumer price index (HICP) was observed in Latvia (21.6%), followed by Estonia (18.8%) and Lithuania. (18.4%).
Spain and Luxembourg (5.8% each) and Malta (6.7%) were estimated to have the lowest inflation rates in January, with Portugal at 8.6%.
The annual inflation rate in the euro area has accelerated since June 2021, mainly due to rising energy prices, hitting record highs since November 2021 before peaking at 10.6% in October 2022 and with the first decline to be recorded in next month.
Author: Portuguese
Source: CM Jornal
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