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Eurozone Inflation Climbs to 1.1%
Inflation in the eurozone rose in December to an annualized 1.1%, the highest monthly rate since September 2013, according to an initial estimate by Eurostat.
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Inflation in the eurozone rose in December to an annualized 1.1%, the highest monthly rate since September 2013, according to an initial estimate by Eurostat.
Inflation had been stuck at a microscopic 0.2% through August before slowing rising to 0.6% in November. The European Central Bank considers a 2% rate normal for a healthy economy.
Last month’s increase was driven mainly by 2.5% higher energy costs, the EU's statistical service says. Prices on food, alcohol, tobacco and services rose 1.2%. Core inflation, which ignores volatile energy and food prices, advanced to 0.9% from 0.8% in December 2015. Non-energy industrial goods were unchanged at 0.3%.
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