Euro Area Inflation Rate Down to 2.0 Percent in January


Euro area annual inflation was 2.0 percent in January 2013, down from 2.2 percent in December 2012. A year earlier the rate was 2.7 percent. Monthly inflation was -1.0 percent in January 2013. The EU annual inflation was 2.1 percent in January 2013, down from 2.3 percent in December 2012. Monthly inflation was -0.8 percent in January 2013.

In January 2013, the lowest annual rates were observed in Greece (0.0 percent), Portugal (0.4 percent) and Latvia (0.6 percent), and the highest in Romania (5.1 percent), Estonia (3.7 percent) and the Netherlands (3.2 percent). Compared with December 2012, annual inflation fell in twenty-three Member States, remained stable in one and rose in three. The lowest 12-month average rates up to January 2013 were registered in Greece and Sweden (both 0.9 percent) and Ireland (1.9 percent), and the highest in Hungary (5.4 percent), Estonia (4.1 percent), Romania and Slovakia (both 3.6 percent).

The largest upward impacts on euro area annual inflation in January 2013 came from electricity (+0.16 percentage points), vegetables (+0.09) and tobacco (+0.07), while telecommunications (-0.20), medical & paramedical services (-0.08) and garments (-0.06) had the biggest downward impacts.
 

Eurostat | Nuno Fontes | nuno@tradingeconomics.com
2/28/2013 10:06:36 AM