Eurozone ends year with single-digit inflation

SAFAKNA TURKEY – In 2022, when the European Central Bank decided to raise interest rates historically, inflation in the euro area fell to single digits.

According to leading data from Eurostat, the Statistical Institute of the European Union (EU), consumer prices in the Eurozone rose by 9.2 percent in December compared to the same month of the previous year. Economists polled by Bloomberg had expected annual inflation to be 9.5%. In November, annual inflation in the euro area was fixed at 10.1 percent.

In December, the Eurozone closed 2022 with single-digit inflation.

In the same period, monthly negative inflation was recorded. In December, consumer prices in the euro area fell by 0.3 percent compared with the previous month. Economists had expected a decline of 0.1%.

The main indicators, on the other hand, showed an upward movement in December, albeit limited. Annual core inflation in the euro area was 5.2 percent. The expectation of these data was fixed at 5.1 percent.

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