Annual Inflation in The Euro Area Was 0.8 Percent in January This Year

Annual inflation in the euro area was 0.8 percent in January this year, remaining unchanged compared to December, according to a report released by Eurostat, the Statistical Office of the European Communities. In January 2013, the annual inflation rate was two percent. Meanwhile, monthly inflation in the euro area was -1.1 percent in January this year.

Meanwhile, in the European Union (EU-28) annual inflation was 0.9 percent in January, down compared with December. In January 2013, the annual inflation rate in the EU-27 was 2.1 percent, while the monthly inflation was -0.9 percent in January of the current year.

In January this year, annual inflation in the EU-28 fell in 17 states, remained stable in seven and increased in four states as compared with December. The lowest annual inflation rates were observed in Cyprus (-1.6%), Greece (-1.4%) and Bulgaria (-1.3%), while the highest were observed in Finland and the UK (both 1.9%).

The lowest 12-month averages up to the end of January this year were registered in Greece (-1.0%), Latvia (0.0%) and Bulgaria and Cyprus (both 0.1%), while the highest were seen in Estonia (3.1 %), Romania (2.9%) and the UK (2.5%).