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Eurozone annual inflation hits new all-time high

Annual inflation in 19 eurozone countries accelerated to 5.1% in January, according to preliminary estimates. It is reported by RIA Novosti, referring to the data of the European statistical agency Eurostat.

The indicator became a record for the entire existence of the eurozone - from January 1, 1999. It is specified that a month earlier inflation was 5%.

Analysts, on the contrary, expected inflation to slow down to 4.4%.

At the same time, core annual inflation slowed to 2.3% from 2.6% in December 2021.

According to Eurostat data, in January 2022 alone, consumer prices in the eurozone, according to preliminary data, increased by 0.3%.

In October 2021, it became known that the prices of many goods and services in Europe rose significantly due to the fact that inflation in the eurozone was 3.4% in September. This is the highest since the 2008 global financial crisis. Thus, in September 2021, the largest contribution to the growth of inflation was made by the increase in energy prices. The constant increase in gas prices led to the fact that inflation rates rose by 1.63% because of this.

Eurozone annual inflation hits new all-time high