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U.S.Economy: 
Euro Area Annual Inflation Rises 3.2% in January
Author: 123jump.com Staff
123jump.com
Last Update: 10:48 AM EST February 29 2008


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Euro area annual inflation was 3.2% in January 2008, up from 3.1% in December 2007. A year earlier the rate was 1.8%. Monthly inflation was -0.4% in January 2008. EU annual inflation was 3.4% in January 2008, up from 3.2% in December 2007. A year earlier the rate was 2.1%.

 
These figures come from Eurostat, the Statistical Office of the European Communities.


Euro area annual inflation was 3.2% in January 20082, up from 3.1% in December 2007. A year earlier the rate was 1.8%. Monthly inflation was -0.4% in January 2008. EU3 annual inflation was 3.4% in January 2008, up from 3.2% in December 2007. A year earlier the rate was 2.1%. Monthly inflation was -0.2% in January 2008.

Inflation in the EU Member States

In January 2008, the lowest annual rates were observed in the Netherlands (1.8%), the United Kingdom (2.2%), Germany and Portugal (both 2.9%), and the highest in Latvia (15.6%), Bulgaria (11.7%) and Estonia (11.3%). Compared with December 2007, annual inflation rose in twenty-one Member States, remained stable in two and fell in four.

The lowest 12-month averages4 up to January 2008 were registered in Malta (0.9%), the Netherlands (1.6%), Denmark, France, Finland and Sweden (1.8% each), and the highest in Latvia (10.8%), Bulgaria (8.0%) and Hungary (7.8%).

Euro area

The main components with the highest annual rates in January 2008 were education (9.4%), transport (5.7%) and food (5.4%), while the lowest annual rates were observed for communications (-2.9%), recreation & culture (0.1%) and clothing (0.5%). Concerning the detailed sub-indices, fuels for transport (+0.54 percentage points), heating oil (+0.22) and milk, cheese & eggs (+0.21) had the largest upward impacts on the headline rate, while telecommunications (-0.19), garments (-0.14) and cars (-0.12) had the biggest downward impacts.

The main components with the highest monthly rates were food (1.1%), housing and health (both 1.0%), and the lowest were clothing (-9.3%), recreation & culture (-2.2%) and hotels & restaurants (-0.3%). In particular, gas (+0.08 percentage points), restaurants & cafés (+0.07) and fuels for transport (+0.06) had the largest upward impacts, while garments (-0.51), package holidays (-0.19) and footwear (-0.11) had the biggest downward impacts.


Available at:

http://epp.eurostat.ec.europa.eu/pls/portal/docs/PAGE/PGP_PRD_CAT_PREREL/PGE_CAT_PREREL_YEAR_2008/PGE_CAT_PREREL_YEAR_2008_MONTH_02/2-29022008-EN-BP.PDF
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