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1/20, 11:00 AM (Source: TeleTrader)
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Euro area inflation confirmed at 5% in December

The annual inflation rate in the Eurozone stood at a record high of 5% in December, a report published by the European Union's statistical office Eurostat on Thursday showed, confirming preliminary figures. In the whole EU, the inflation rate climbed to 5.3% in the last month of 2021.

Among member states, the highest inflation rates were recorded in Estonia, at 12%, Lithuania, at 10.7%, and Poland, at 8%, while the lowest rates were observed in Malta, at 2.6%, and Portugal, at 2.8%.

The largest contributor to the annual euro area inflation was the energy sector, contributing 2.46 percentage points, followed by services with a positive contribution of 1.02 percentage points.

On a monthly basis, consumer prices were up 0.4% in the Eurozone.

Baha Breaking News (BBN) / NP