Prices Inflation rate in the eurozone rises for the third month in a row
Inflation in the eurozone rose for the third month in a row in December. Consumer prices rose by 2.4 percent compared to the same month last year, according to an initial estimate released by the statistics office Eurostat on Tuesday.
07.01.2025, 11:22
SDA
Economists had expected this increase on average. In the previous month, the inflation rate in the countries with the common euro currency had been a revised 2.2 percent and 2.0 percent in October. Compared to the previous month, consumer prices rose by 0.4 percent in December. This had also been expected.
The slight year-on-year increase in energy prices is responsible for the rise in the annual inflation rate. They had fallen noticeably in the previous month. In addition, prices in the services sector rose more strongly than in the previous month.
Core inflation, excluding volatile prices for energy, food and luxury foods, remained at 2.7% in December. Core inflation reflects underlying inflation and, in the opinion of many economists, better reflects the inflation trend than the overall rate.
The European Central Bank (ECB) is aiming for an inflation rate of two percent in the medium term. In December, the ECB reduced its key interest rates by 0.25 percentage points.
