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Annual inflation at -0,8% in December

20/01/2021 13:42

In December 2020, the euro area annual inflation was -0.3% for the fourth consecutive month, according to figures published by Eurostat, the statistical office of the European Union. A year earlier, the rate was 1.3%. European Union annual inflation was 0.3% in December 2020, up from 0.2% in November. A year earlier, the rate was 1.6%.

In Cyprus inflation was  -0.8% in December, up from -1,1% in November 2020, while a year earlier it was  0.7%.

In Greece inflation was  -2.1 in November 2020, dropped to -2.4% in December, whille a year ago it was 1.1%.

The lowest annual rates were registered in Greece (-2.4%), Slovenia (-1.2%) and Ireland (-1.0%). The highest annual rates were recorded in Poland (3.4%), Hungary (2.8%) and Czechia (2.4%).

Compared with November, annual inflation fell in nine Member States, remained stable in eight and rose in ten.

In December, the highest contribution to the annual euro area inflation rate came from services (+0.30 percentage points, pp), followed by food, alcohol & tobacco (+0.25 pp), non-energy industrial goods (-0.14 pp) and energy (-0.68 pp).