According to Europa Press, in December, rising energy prices in the euro area it eased to 25.5% from 34.9% in November, while the rise in the price of fresh food was 12%, compared to 13.8% in the previous month.
Similarly, services rose 4.4% year-on-year, two tenths more than in November, and non-energy industrial goods became more expensive by 6.4%, three tenths more than in the previous month.
By excluding the impact of energy from the calculation, the year-on-year inflation rate in the euro zone stood at 7.2% in December, two tenths above the rise in November, while also leaving out the effect of prices of fresh food, alcohol and tobacco, the underlying inflation rate rose two tenths, climbing to a new all-time high of 5.2%.
16 countries registered double-digit inflation rates
Among the Twenty-seven, 16 economies registered double-digit annual inflation ratesincluding nine from the euro zone and Croatia, concentrating the largest price increases in Hungary (25%), Latvia (20.7%), Lithuania (20%) and Estonia (17.5%).
On the contrary, the less intense harmonized inflation rates in December corresponded to Spain (5.5%), Luxembourg (6.2%) and France (6.7%).
Thus, the favorable price differential for Spain with respect to the euro area widened in December to 3.7 percentage points from the 3.4 points of the previous month.
Outside the EU, the UK inflation rate for December stood at 10.5%compared to 10.7% in November, while the country’s core CPI held at 6.3%.
In the case of the United States, prices rose 6.5% in year-on-year terms in December compared to 7.1% in Novemberthus chaining six months of moderation and registering the smallest price increase since October 2021. In turn, core inflation in the United States stood at 6%, three tenths less than the previous month.
Source: Ambito
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