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24 Feb 2015
Eurozone inflation declines 0.6 percent
FXStreet (London) - Eurozone annual inflation was -0.6 percent in January 2015, down from -0.2 percent in December, according to data released by Eurostat, the statistical office of the European Union. This was the lowest rate recorded since July 2009. In January 2014 the rate was 0.8 percent. European Union annual inflation was -0.5 percent in January 2015, down from -0.1 percent in December. A year earlier the rate was 0.9 percent.
In January 2015, negative annual rates were observed in twenty-three Member States. The lowest annual rates were registered in Greece (-2.8 percent) and Bulgaria (-2.3 percent). Positive annual rates were recorded in Malta (0.8 percent), Austria and Romania (both 0.5 percent), Sweden (0.4 percent) and the United Kingdom (0.3 percent). Compared with December 2014, annual inflation fell in almost all Member States, except Cyprus, Malta and Sweden.
The largest upward impacts to Eurozone annual inflation came from restaurants & cafés and rents (+0.14 percentage points each) and tobacco (+0.07 pp), while fuels for transport (-0.77 pp), heating oil (-0.24 pp) and telecommunications (-0.05 pp) had the biggest downward impacts.
In January 2015, negative annual rates were observed in twenty-three Member States. The lowest annual rates were registered in Greece (-2.8 percent) and Bulgaria (-2.3 percent). Positive annual rates were recorded in Malta (0.8 percent), Austria and Romania (both 0.5 percent), Sweden (0.4 percent) and the United Kingdom (0.3 percent). Compared with December 2014, annual inflation fell in almost all Member States, except Cyprus, Malta and Sweden.
The largest upward impacts to Eurozone annual inflation came from restaurants & cafés and rents (+0.14 percentage points each) and tobacco (+0.07 pp), while fuels for transport (-0.77 pp), heating oil (-0.24 pp) and telecommunications (-0.05 pp) had the biggest downward impacts.