Eurozone Inflation Rate Climbs to 2.4% in December

In a recent update from Eurostat, the Eurozone's consumer price index (CPI) witnessed a year-on-year increase of 2.4% in December, marking a rise from November's 2.2%. This upward trend reflects a growing inflationary pressure within the European Union, where the annual inflation rate reached 2.7%, up from 2.5% in the previous month.

Among the EU member states, Romania experienced the highest inflation rate at 5.5%, closely followed by Hungary and Croatia at 4.8% and 4.5%, respectively. On the lower end of the spectrum, Ireland reported the lowest inflation rate at 1%, with Italy not far behind at 1.4%.

Monthly CPI and Core Inflation Insights

On a monthly basis, the CPI in the euro area increased by 0.4%, while the EU saw a 0.3% rise. The core inflation, which excludes volatile items such as energy, food, alcohol, and tobacco, was recorded at 2.7% for the Eurozone. The monthly core CPI growth remained steady at 0.5%, consistent with the preliminary figures.