Eurozone Inflation Accelerates to 5 Percent Breaking 1991 Record

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Inflation
Inflation

The 19-nation euro area’s annual inflation sped up to 5% in December to the level last seen in August 1991, according to a flash estimate published by Eurostat on Friday.

“Euro area annual inflation is expected to be 5.0% in December 2021, up from 4.9% in November,” the EU statistics agency said.

Energy is expected to have the highest annual rate in December (26%, compared with 27.5% in November), followed by food, alcohol and tobacco (3.2% versus 2.2%), non-energy industrial goods (2.9% versus 2.4%) and services (2.4% versus 2.7%).

The next release with full data for December 2021 is scheduled for January 20.

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