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EU INFLATION EASES IN JANURY 2024

February 28, 2024
inflation

EU inflation eases in January 2024. The region saw a slight decrease in the inflation rate, according to Eurostat.

The eurozone saw inflation settling at 2.8%, a minor dip from December’s 2.9%.

This marks a significant decline from the 8.6% observed a year prior.

The broader European Union experienced a similar trend, with inflation easing to 3.1% from December’s 3.4%.

This represents a notable decrease from the previous year’s 10%.

The lowest inflation figures were recorded in several countries including Denmark and Italy, both at 0.9%, along with Latvia, Lithuania, and Finland, each at 1.1%. On the higher end, Romania, Estonia, and Croatia reported the most substantial inflation rates.

The main contributors to the eurozone’s inflation were identified as services, followed by food, alcohol & tobacco, and non-energy industrial goods, whereas energy prices exerted a downward pressure.