Euro area December annual inflation confirmed at 5-month high of 2.4%

By Tuba Ongun

ANKARA (AA) – The euro area annual consumer inflation rate for December was confirmed at 2.4%, its highest level since July, according to a second reading released Friday.

Headline inflation accelerated from 2.2% in November, Eurostat data showed.

Core inflation, which excludes volatile food and energy prices, remained stable for the fourth consecutive month at 2.7%.

Energy prices rose 0.1% year-on-year in December, shifting from declines posted in the four months prior.

Inflation across the European Union also hit a five-month high in December, reaching 2.7% in December from 2.5% in November.

The lowest annual inflation rates were seen in Ireland (1.0%), Italy (1.4%), and Luxembourg, Finland, and Sweden (all 1.6%). Meanwhile, the highest rates were seen in Romania (5.5%), Hungary (4.8%), and Croatia (4.5%).

On a monthly basis, the eurozone’s consumer prices gained 0.4% in December, reversing from the 0.3% decline seen in November, aligning with initial estimates.

The eurozone (EA19) is made up of EU member states using the euro, while the EU27 includes all members of the bloc.