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Economic Buzz: Eurozone Inflation Confirmed At 5% On Year In December

Economic Buzz: Eurozone Inflation Confirmed At 5% On Year In December

January 20, 2022 4:04 IST | capital market

Eurozone annual inflation rate was confirmed at a record high of 5% on a yearly basis in December, up from 4.9% in November, as rising energy costs continue to push consumer prices up, according to Eurostats final reading of the Eurozone CPI report. This was the highest inflation on record. Core inflation, which excludes prices of energy, food, alcohol & tobacco, held steady at 2.6 percent in December, as initially estimated. Compared to the previous month, consumer prices rose 0.4 percent in December. In December, the highest contribution to the annual inflation came from energy, followed by services, non-energy industrial goods and food, alcohol and tobacco.

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