Euro area’s annual inflation rate may drop to 8.5% in Jan 2023

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in January at 17.2 per cent compared with 25.5 per cent in December followed by other goods including non-energy industrial goods at 6.9 per cent compared with 6.4 per cent in December, according to data from Eurostat, the statistical office of the European Union (EU)

Euro area’s annual inflation is expected to be 8.5 per cent in January 2023, down from 9.2 per cent in December according to a flash estimate from Eurostat, the statistical office of the European Union (EU). Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in January at 17.2 per cent.

Annual inflation is the change of the price level of consumer goods and services between the current month and the same month of the previous year. Monthly inflation is the change of the price level between the current month and the previous month.

Fibre2Fashion News Desk (NB)