Eurozone ends 2022 with low inflation

Inflation decreased in the Eurozone in 2022, when the European Central Bank decided on historic interest rate increases.

According to the leading data of the European Union (EU) Statistical Agency Eurostat, consumer prices in the Eurozone increased by 9.2 percent in December compared to the same month of the previous year. The expectation of economists participating in the Bloomberg survey was that annual inflation would be 9.5 percent. In November, annual inflation in the Eurozone was recorded as 10.1 percent.

At the end of the year, the Eurozone closed the year 2022 with little inflation.

In the same period, negative inflation was recorded monthly. Consumer prices in the Eurozone decreased by 0.3 percent in December compared to the previous month. Economists had expected a decrease of 0.1 percent.

In the core indicators, an upward movement was seen in December, even if it limited. Annual core inflation in the Eurozone was 5.2 percent. The expectation for this data was recorded as 5.1 percent.