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Thomas Storring	Director – Economics and Statistics
Tel: 902-424-2410	Email: Thomas.Storring@novascotia.ca

February 21, 2020
EU AND EURO AREA CONSUMER PRICE INFLATION, JANUARY 2020

In January, the year-over-year inflation rate rose to 1.7 per cent in the European Union  and to 1.4 per cent in the Euro Area. European Union data for this report is for the EU27 not including the UK. 

Among member states, the fastest year-over-year inflation was reported in Hungary, Romania, Czechia and Poland, while the lowest inflation was reported in Italy, Cyprus, Denmark and Portugal.                                                                                                                          

January food price inflation moved up to 2.8 per cent (year-over-year) in the European Union and 1.8 per cent (year-over-year) in the Euro Area. 

Energy inflation also rose with the year-over-year inflation rate to 2.2 per cent in the European Union and to 1.9 per cent in the Euro Area.

Excluding the impacts of volatile energy, food, alcohol and tobacco prices year-over-year inflation in Europe moved down to 1.3 per cent for the European Union and by 1.1 per cent for the Euro Area. 

 

Source: Eurostat-News Release