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November 19, 2019

Eurozone inflation continue to slow down in January

Eurozone inflationThe Eurozone inflation continue to slow down in January, reaching its lowest level in six months. The consumer prices rose 1.3% in the first month of the year, compared with 1.4% in the previous month, according to Eurostat’s latest data. Compared to the same period last year, there was also a serious slowdown, as inflation in the region reached 1.8%. This is also the lowest level since July 2017.

Consumer prices in the European Union (EU) also slowed by 0.1 percentage point in January compared to the previous month, amounting to 1.6%. This is also the lowest level since July 2017. Compared with the same period in 2017, the decline was the same.

For January deflation was reported in only one EU country – in Cyprus, amounting to 1.5%. The lowest rate of inflation in January was reported by Greece (0.2%) and Ireland (0.3%). Lithuania and Estonia (3.6%) and Romania (3.4%) have fastest growing CPI.

In Bulgaria, inflation in January was slightly below the EU average of 1.3%, slowing sharply compared to the previous month when it was 1.8%. In January 2017, the country witnessed an inflation of 0.4%.

Compared to December 2017, the annual inflation has slowed down in 21 member states, remained stable in one, and accelerated to six.

The highest inflationary impact in the Eurozone was recorded in services prices (0.56 percentage points), followed by food, alcohol and tobacco (0.39 percentage points), energy (0.22 percentage points) and non-energy industrial goods (0.15 percentage points).

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