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December 2018 – Annual inflation down to 1.6% in the euro area – Down to 1.7% in the EU

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The
euro area
annual inflation rate was 1.6% in December 2018, down from 1.9%
in November. A year earlier, the rate was 1.4%. European Union annual inflation was 1.7% in December 2018, down
from 2.0% in November. A year earlier, the rate was 1.7%. These figures are
published by Eurostat, the statistical
office of the European Union
.

The lowest annual rates were registered
in Greece and Portugal (both 0.6%)and Denmark (0.7%). The highest annual
rates were recorded in Estonia (3.3%), Romania (3.0%)and Hungary (2.8%). Compared
with November 2018, annual inflation fell in twenty-two Member States, remained
stable in three and rose in three.

In December 2018, the highest contribution to the annual euro area inflation rate came from services (+0.58 percentage points, pp), followed by energy (+0.53 pp), food, alcohol & tobacco (+0.34 pp) and non-energy industrial goods (+0.12 pp).

Annual inflation rates (%) in December
2018, in ascending order

Inflation rates (%) measured by the HICP

Annual rate Monthly rate
Dec 17 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18   Dec 18
Euro area 1.4 2.1 2.0 2.1 2.2 1.9 1.6   0.0
EU 1.7 2.2 2.2 2.1 2.2 2.0 1.7   0.0
Belgium 2.1 2.7 2.6 2.8 3.2 2.9 2.2   -0.2
Bulgaria 1.8 3.6 3.7 3.6 3.6 3.0 2.3   0.0
Czechia 2.2 2.2 2.4 2.1 2.0 1.6 1.6   0.0
Denmark 0.8 0.9 0.8 0.5 0.7 0.7 0.7   -0.4
Germany 1.6 2.1 1.9 2.2 2.4 2.2 1.7   0.3
Estonia 3.8 3.3 3.5 3.5 4.5 3.2 3.3   -0.3
Ireland 0.5 1.0 0.9 1.2 1.1 0.8 0.8   -0.1
Greece 1.0 0.8 0.9 1.1 1.8 1.1 0.6   -0.1
Spain 1.2 2.3 2.2 2.3 2.3 1.7 1.2   -0.5
France 1.2 2.6 2.6 2.5 2.5 2.2 1.9   0.1
Croatia 1.3 2.2 2.1 1.6 1.7 1.3 1.0   -0.6
Italy 1.0 1.9 1.6 1.5 1.7 1.6 1.2   -0.1
Cyprus -0.4 1.4 1.7 1.7 1.9 1.6 1.0   -0.9
Latvia 2.2 2.7 2.8 3.3 3.2 2.9 2.5   -0.3
Lithuania 3.8 2.3 1.8 2.4 2.8 2.4 1.8   -0.5
Luxembourg 1.6 2.5 2.4 2.7 2.8 2.6 1.9   -0.7
Hungary 2.2 3.4 3.4 3.7 3.9 3.2 2.8   -0.4
Malta 1.3 2.1 2.4 2.5 2.1 1.4 1.2   -0.2
Netherlands 1.2 1.9 1.9 1.6 1.9 1.8 1.9   0.0
Austria 2.3 2.3 2.3 2.1 2.4 2.3 1.7   0.1
Poland 1.7 1.4 1.4 1.5 1.5 1.1 0.9   0.0
Portugal 1.6 2.2 1.3 1.8 0.8 0.9 0.6   -0.4
Romania 2.6 4.3 4.7 4.7 4.2 3.2 3.0   0.1
Slovenia 1.9 2.1 2.0 2.2 2.3 2.1 1.4   -0.6
Slovakia 2.0 2.6 2.9 2.7 2.5 2.0 1.9   -0.1
Finland 0.5 1.4 1.4 1.4 1.7 1.4 1.3   -0.2
Sweden 1.7 2.2 2.1 2.5 2.4 2.1 2.2   0.5
United Kingdom 3.0 2.5 2.7 2.4 2.4 2.3 2.1   0.2
Iceland -1.0 1.9 2.1 1.2 0.9 1.5 2.0   1.9
Norway 1.5 3.5 3.9 3.8 3.6 3.8 3.9   0.0
Switzerland 1.1 1.2 1.3 1.1 1.1 1.0 0.8   0.0

Annual inflation rate (%) in the euro area and the European Union

Euro area inflation rate (%), selected aggregates

  Weight
(‰)
Annual rate   Monthly rate
2018 Dec 17 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18 Dec 18
All-items
HICP
1000.0 1.4 2.1 2.0 2.1 2.2 1.9 1.6   0.0
All-items
excluding:
> energy
903.0 1.2 1.4 1.3 1.3 1.3 1.2 1.1   0.4
>
energy, unprocessed food
828.2 1.1 1.3 1.2 1.1 1.2 1.1 1.1   0.4
>
energy, food, alcohol & tobacco
707.3 0.9 1.1 0.9 0.9 1.1 1.0 1.0   0.5
>
energy, seasonal food
862.6 1.2 1.3 1.1 1.1 1.2 1.1 1.1   0.3
>
tobacco
976.7 1.3 2.1 1.9 2.0 2.1 1.9 1.5   0.0
Food,
alcohol & tobacco
195.7 2.1 2.5 2.4 2.6 2.2 1.9 1.8   0.0
>
processed food, alcohol & tobacco
121.0 2.2 2.4 2.4 2.2 2.2 2.0 1.7   -0.2
>
unprocessed food
74.8 1.9 2.6 2.5 3.2 2.1 1.8 1.9   0.4
Energy 97.0 2.9 9.5 9.2 9.5 10.7 9.1 5.4   -3.2
Non-energy
industrial goods
263.3 0.5 0.5 0.3 0.3 0.4 0.4 0.4   -0.2
Services 443.9 1.2 1.4 1.3 1.3 1.5 1.3 1.3   0.9

Contributions to the euro area annual inflation rate (pp), selected aggregates

  Contributions
Dec 17 Jul 18 Aug 18 Sep 18 Oct 18 Nov 18 Dec 18
Food,
alcohol & tobacco
0.41 0.49 0.48 0.51 0.42 0.38 0.34
> processed food, alcohol & tobacco 0.27 0.30 0.29 0.27 0.27 0.24 0.20
> unprocessed food 0.14 0.20 0.19 0.24 0.16 0.14 0.14
Energy 0.28 0.89 0.88 0.91 1.02 0.88 0.53
Non-energy
industrial goods
0.13 0.12 0.08 0.08 0.11 0.11 0.12
Services 0.54 0.64 0.59 0.57 0.65 0.57 0.58

Geographical
coverage

The euro area consists of Belgium, Germany,
Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania,
Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and
Finland.

The European Union includes Belgium, Bulgaria,
Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia,
Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria,
Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United
Kingdom.

The euro
area and European Union data refer to the respective country compositions at a
specific point in time. New Member States are integrated into the aggregates
using a chain index formula.

Methods and definitions

The
annual rate measures the change of
the Harmonised Indices of Consumer Prices (HICP) between a month and the same
month of the previous year, and the monthly
rate
compares the indices between the two latest months.

A contribution shows how much of the annual inflation rate comes from
a particular component of the HICP. The
contributions are calculated according to a method which ensures their
additivity (allowing for rounding).

Revisions and timetable

A flash estimate of euro area inflation is issued at the end of each reference month. The euro area flash estimate for December 2018, published on 4 January 2019, was 1.6%.

The next flash estimate of euro area inflation with data for January 2019 is scheduled for 1 February 2019.

Issued by: Eurostat Press Office

The post December 2018 – Annual inflation down to 1.6% in the euro area – Down to 1.7% in the EU appeared first on maltawinds.com.

Original article found on Malta Winds

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