Inflation in the eurozone rises for the third consecutive month

(Patria) - In December, consumer prices rose by 2.4 percent compared to the same month last year. Energy and service prices significantly contributed to the highest rate since July.

This is the highest level since July 2024: inflation in the eurozone has risen for the third consecutive month. Consumer prices increased by 2.4 percent compared to the same month last year, according to data from the statistical office Eurostat.

As expected, the first estimate was confirmed. The inflation rate was 2.2 percent in November and 2.0 percent in October. Compared to the previous month, consumer prices rose by 0.4 percent in December. Here too, the first estimate was confirmed as expected.

One of the reasons for higher inflation in December is a slight increase in energy prices compared to the previous year. They fell significantly in the previous month. In addition, prices in the services sector continued to rise at an above-average rate.

Core inflation, which excludes volatile energy, food and drink prices, remained at 2.7 percent in December. Core inflation reflects underlying inflation and, in the opinion of many economists, represents the inflation trend better than the overall rate.