London, Wednesday, 23 February 2022 -
According to Eurostat numbers released Wednesday, annual consumer inflation in the Eurozone reached a new high of 5.1 percent in January.
Annual inflation in December 2021 was 5 percent, which was in line with market expectations.
Annual inflation in the EU jumped to 5.6 percent in January, up from 5.3 percent in December, according to the EU's statistical agency.
Inflation in the euro area grew 0.3 percent in January compared to the previous month, while EU inflation increased 0.5 percent.
Lithuania had the highest yearly rates of 12.3 percent, Estonia had 11 percent, and Czechia had 8.8 percent. France, Portugal, and Sweden had the lowest yearly rates, at 3.3 percent, 3.4 percent, and 3.9 percent, respectively.
According to the study, energy contributed the most to the annual euro area inflation rate in January, with 2.8 percentage points.
Inflation is defined by Eurostat as the change in the price level of consumer goods and services over time.
(Research and edit by: The Decision Maker)