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Annual inflation at -0.8% in January

23/02/2021 14:13

The euro area annual inflation rate was 0.9% in January 2021, up from -0.3% in December. A year earlier, the rate was 1.4%, according to figures  published today by Eurostat, the statistical office of the European Union. In Cyprus inflation remained stable at -0.8% for January, while it was 0.7% a year earlier.

According to Eurostat, European Union annual inflation was 1.2% in January 2021, up from 0.3% in December. A year earlier, the rate was 1.7%.

The lowest annual rates were registered in Greece (-2.4%), Slovenia (-0.9%) and Cyprus (-0.8%). The highest annual rates were recorded in Poland (3.6%), Hungary (2.9%) and Czech Republic (2.2%).

Compared with December, annual inflation fell in three Member States, remained stable in six and rose in eighteen. In January, the highest contribution to the annual euro area inflation rate came from services (+0.65 percentage points, pp), followed by non-energy industrial goods (+0.37 pp), food, alcohol & tobacco (+0.30 pp) and energy (-0.41 pp).