CdM: The annual inflation rate in the euro area was 2.4% in December 2024, up from 2.2% in November. A year earlier, the rate was 2.9%. Annual inflation in the European Union was 2.7% in December 2024, compared with 2.5% in November. A year earlier, the rate was 3.4%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were recorded in Ireland (1.0%), Italy (1.4%), Luxembourg, Finland and Sweden (all 1.6%). The highest annual rates were recorded in Romania (5.5%), Hungary (4.8%) and Croatia (4.5%). Compared with November 2024, annual inflation fell in seven Member States, remained stable in one and rose in nineteen.
In December 2024, the largest contribution to the annual inflation rate in the euro area was made by services (up 1.78 percentage points, pp), followed by food, alcohol and tobacco (up 0.51 pp), non-energy industrial goods (up 0.13 pp) and energy (up 0.01 pp).
