Tuesday, 24 February 2015
The annual inflation rate in the eurozone stood at 0.6% in January 2015, compared to 0.2% the previous month. This is the lowest rate since July 2009, said Eurostat, the European Union’s stats office on Tuesday. The annual inflation rate in the European Union settled at 0.5% in January 2015, compared to 0.1% in December 2014. In January 2014, it was 0.9%, says Eurostat.
Last month, negative annual rates were observed in 23 of the member states, the lowest of which were recorded in Greece (-2.8%) and Bulgaria (-2.3%). Positive annual rates were reported by Malta (0.8%), Austria and Romania (both at 0.5%), Sweden (0.4%) and the UK (0.3 %). Compared with December 2014, annual inflation fell in almost all member states with the exception of Cyprus, Malta and Sweden.
Belgium showed an inflation rate of 0.6%.
Finally, the annual inflation rate in the eurozone was particularly ‘inflated’ by restaurant and cafe activity, and rents (+0.14 percentage points each) and tobacco (0.07 pp), while fuel for transport (-0.77 pp), liquid heating fuel (-0.24 pp) and telecommunications (-0.05 pp) pulled the rate down.