Euro area inflation rises to 2.4% in Dec 2024, up from 2.2% in Nov

Inflation excluding energy remained stable at 2.7 per cent in euro area, while excluding energy, unprocessed food, and tobacco, it remained at 2.7 per cent. The energy prices rose marginally by 0.1 per cent year-on-year (YoY), while non-energy industrial goods inflation remained low at 0.5 per cent, Eurostat said in a press release.

The annual inflation in the European Union was 2.7 per cent in December 2024, up from 2.5 per cent in November. A year earlier, the rate was 3.4 per cent. The lowest annual rates were registered in Ireland (1.0 per cent), Italy (1.4 per cent), Luxembourg, Finland and Sweden (all 1.6 per cent).

The highest annual rates were recorded in Romania (5.5 per cent), Hungary (4.8 per cent) and Croatia (4.5 per cent). Compared with November 2024, annual inflation fell in seven member states, remained stable in one and rose in nineteen.

Germany’s inflation rose to 2.8 per cent, while France and Italy recorded lower rates at 1.8 per cent and 1.4 per cent, respectively. Spain saw a significant rise to 2.8 per cent, whereas Poland’s inflation remained stable at 3.9 per cent. Monthly inflation was highest in Belgium and Germany (0.7 per cent), while Slovakia recorded the largest decline at -0.5 per cent. Switzerland, Norway, and Slovenia also experienced a monthly drop of -0.1 per cent.

ALCHEMPro News Desk (SG)