The slowdown in inflation has now turned out to be stronger than experts had expected. Analysts from Bloomberg and Factset had expected 9.5 and 9.7 percent.
Inflation is still largely influenced by energy prices: only in this area has it slowed down. Electricity, gas and oil continued to cost significantly more in December than a year earlier – an average of 25.7 percent. In November, however, price increases in the energy sector were still 34.9 percent.
For food, tobacco and alcohol, however, inflation continued to rise, from 13.6 percent to 13.8 percent. The inflation rate for industrial goods and services also increased further.
Broken down by country, Eurostat estimated the highest inflation in Latvia at 20.7 percent. In Spain, prices rose the least at 5.6 percent. For Germany, the statistics authority predicted inflation of 9.6 percent. Eurostat has a different calculation method than the Federal Statistical Office to make the rates more comparable. On Tuesday, the statisticians in Wiesbaden reported an expected inflation rate of 8.6 percent in December.
