Home breadcru News breadcru Announcement breadcru Euro area's annual inflation dips to 8.6% in Jan 2023, 10% in EU

Euro area's annual inflation dips to 8.6% in Jan 2023, 10% in EU

24 Feb '23
1 min read
Pic: Shutterstock/ Studio.G photography
Pic: Shutterstock/ Studio.G photography

Euro area’s annual inflation rate was 8.6 per cent in January 2023, down from 9.2 per cent in December. A year earlier, the rate was 5.1 per cent. European Union’s (EU) annual inflation was 10.0 per cent in January 2023, down from 10.4 per cent in December. A year earlier, the rate was 5.6 per cent, as per Eurostat.

The lowest annual rates were registered in Luxembourg (5.8 per cent), Spain (5.9 per cent), and Cyprus and Malta (both 6.8 per cent). The highest annual rates were recorded in Hungary (26.2 per cent), Latvia (21.4 per cent), and Czechia (19.1 per cent), Eurostat, the statistical office of the EU, said in a press release.

Compared with December, annual inflation fell in 18 member states and rose in nine.

ALCHEMPro News Desk (NB)

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