Inflation in Eurozone

Eurozone Harmonized Inflation (eop) | Economic News & Forecasts

Eurozone - Harmonized Inflation (end of period)

Inflation drops in December

According to complete data released by Eurostat on 17 January, harmonized inflation came in at 1.6% in December, matching the preliminary estimate and below November’s 1.9%. December’s result marks an eight-month low. Inflation sits below the European Central Bank’s target rate of near, but under, 2.0%. Lower price pressures for energy as the impact from higher oil prices faded drove December’s fall.

Annual average harmonized inflation was unchanged at November’s 1.7% in December. Core inflation was also stable at the previous month’s 1.1%. On a monthly basis, harmonized consumer prices recorded flat growth, contrasting the 0.2% drop seen in November.

Among the countries in the common-currency bloc, Greece (0.6%) and Portugal (0.6%) recorded the lowest inflation in December. On the flipside, Estonia (3.3%) and Latvia (2.5%) experienced the highest price pressures. Regarding the largest economies in the Eurozone, inflation fell across-the-board, with price pressures easing in France (1.9%), Germany (1.8%), Italy (1.2%) and Spain (1.2%) in December.

Eurozone Inflation Forecast

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.6% in 2019. For 2020, panelists also expect inflation to average 1.6%.

Eurozone - Harmonized Inflation (eop) Data

2013  2014  2015  2016  2017  
Inflation Rate (HICP, annual variation in %, eop)0.9  -0.2  0.2  1.1  1.4  

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Eurozone Harmonized Inflation (eop) Chart

Euro Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: Eurostat and FocusEconomics calculations.

Eurozone Facts

Exchange Rate1.140.65 %Jan 16
Stock Market1,067-0.52 %Jan 16

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