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EURO INFLATION SLOWS TO 8.5%

February 2, 2023
inflation

Euro area inflation slows to 8.5% in January, according to a flash estimate from Eurostat.

Energy expects the highest annual rate, at 17.2%. Food, alcohol, and tobacco follows at 14.1%.

Euro area annual inflation dropped from 9.2% in December, improving the outlook for the polymer industry.

While non-energy industrial goods and services trail at 6.9% and 4.2% respectively.

The decrease in euro area annual inflation spells good news for the polymer industry, likely to enhance the outlook for the second half of the year.

Prices have declined over the past few months for many polymers such as PC, PA66, PA6 and ABS, due to insufficient demand and cheaper energy costs. Positive data continuing may slow or even reverse this trend in 2023.