Euro zone consumer inflation decelerated as expected in December, confirmed the European Union’s statistics agency, Eurostat, this Wednesday (18), due to a continuous drop in energy prices that previously raised the rate to levels records.
Eurostat said prices in the 20 countries that use the euro fell 0.4% in December from the previous month, accumulating an annual increase of 9.2%. The annual reading was in line with a preliminary estimate and therefore market expectations.
Energy prices fell 6.6% mom to a 25.5% increase on the year, slowing from a 34.9% gain the previous month.
As a result, energy ceased to be the main contributor to the annual rate, adding only 2.79 percentage points, while food contributed 2.88 points. Non-energy industrial goods added up to 1.70 percentage points and services remained at 1.83 points.
Stripping out the volatile energy and food components, prices rose 0.7% over the month, for a 6.9% year-on-year increase. An even narrower measure, which also excludes tobacco and alcohol prices, showed that inflation rose 0.6% from the previous month, for a 5.2% increase over the year.
Source: CNN Brasil
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