Uptick in euro zone inflation

Inflation accelerated once more in the euro zone at the end of last year for the first time since September. In December, consumer prices were 2.9 per cent higher than a year previously, as reported by the Eurostat statistical office in Luxembourg on Friday according to an initial estimate.

In November, the inflation rate was somewhat lower at 2.4 per cent, the lowest level since the summer of 2021. Analysts had expected the increase in December on average.

In a monthly comparison, prices rose by 0.2 per cent. Inflation in the euro zone had slowed to some extent in the course of 2023 after reaching a record high at 10.7 per cent in autumn 2022.