EU inflation decreases to 9.2% in the Euro Area in December, down from 10.1% in November, according to Eurostat.
In the European Union inflation decreased to 10.4% in December from 11.1% in November.
However, inflation remains at high levels. In December last year the Euro Area and the EU registered inflation at 5.0% and 5.1% respectively.
The lower inflation improves the outlook for later in the year for demand for polymers.
However, the relative high levels of inflation will likely prompt further contractionary measures by central banks. This will dampen any recovery.
What is more, in the short-term, consumers face expensive energy bills that should add more weakness on demand in the coming months.