Annual inflation in the euro area slowed to 9.2 percent in December last year compared to the previous month when it was 10.1 percent, according to estimates from Eurostat published on Friday.
Eurostat publishes monthly estimates of inflation trends in the euro area. On Friday, estimates for 19 member states of the euro area were published, as there were until the end of December last year, and next month Croatia will be included, which became a member of the euro area on January 1, 2023.
The main drivers of inflation in the euro area remain high energy prices, which are 25.7 percent higher than in December 2021, while in November last year they were 34.9 percent higher.
Following are food, alcohol, and tobacco, where prices are 13.8 percent higher than a year earlier, which is a slight increase compared to November 2022 when prices were 13.6 percent higher.
Non-energy industrial goods increased by 6.4 percent, which is 0.3 percentage points higher than the previous month, and services by 4.4 percent, or 0.2 percentage points higher than in November.
Among the countries using the euro, according to preliminary estimates from Eurostat, the highest annual inflation in December was recorded in Latvia, where it was 20.7 percent, after being 21.7 percent in October and November. Lithuania follows, where the year-on-year increase in consumer prices was 20 percent (21.4 percent in November).
The lowest annual inflation rate was recorded in Spain, where it was estimated at 5.6 percent (6.7 percent in November), followed by Luxembourg with an inflation rate of 6.2 percent (7.3 percent in November).
