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Inflation in the eurozone falls back to single digits as downward trend continues Access to the commentsCOMMENTS
By Euronews • Updated: 06/01/2023 – 11:14
The latest inflation numbers for the eurozone still represent a far cry from the 2% target set by the European Central Bank.
The latest inflation numbers for the eurozone still represent a far cry from the 2% target set by the European Central Bank. – Copyright Michael Probst/Copyright 2021 The AP. All rights reserved
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Annual inflation across the eurozone fell back to the single-digit territory and stood at 9.2% at the end of December, down from the 10.1% registered the previous month.
It comes as gas prices, one of the main drivers behind last year’s record-breaking inflation, returned to pre-war levels amid unusually warm weather.
Although the news can be seen as a positive development, the eurozone’s inflation rate represents almost five times the 2% target set by the European Central Bank.
However, core inflation, which excludes the volatile prices of energy, food and tobacco and therefore gives a more accurate picture of the state of the economy, remained stuck at 5% for the third consecutive month.
This is a developing story and will be updated.
