The euro area annual inflation rate was 1.3% in December 2019, up from 1.0% in November, according to data released by Eurostat, the statistical office of the European Union. A year earlier, the rate was 1.5%. European Union annual inflation was 1.6% in December 2019, up from 1.3% in November. A year earlier, the rate was 1.6%. In Cyprus inflation increased to 0.7% in December 2019, up from 0.5% in November 2019, while a year earlier it was 1.0%.
According to Eurostat, the lowest annual rates were registered in Portugal (0.4%), Italy (0.5%) and Cyprus (0.7%). The highest annual rates were recorded in Hungary (4.1%), Romania (4.0%), Czechia and Slovakia (both 3.2%). Compared with November, annual inflation fell in two Member States, remained stable in three and rose in twenty-three.
In December, the highest contribution to the annual euro area inflation rate came from services (+0.80 percentage points, pp), followed by food, alcohol & tobacco (+0.38 pp), non-energy industrial goods (+0.12 pp) and energy (+0.02 pp).