January 17, 2024EU AND EURO AREA CONSUMER PRICE INDEX, DECEMBER AND ANNUAL 2023 Year-over-year (December 2023 vs December 2022)
The inflation rate picked up to 3.4% in the European Union and to 2.9% in the Euro Area in December 2023.
The fastest inflation was reported in Czechia (7.6%) and Romania (7.0%) while the slowest inflation rate was in Denmark (0.4%), Italy and Belgium (0.5%).
Energy prices declined 5.0% in the European Union and declined 6.7% in the Euro Area in December 2023.
Food price inflation has continued to slow but remains elevated at 5.7% for the European Union and 6.0% the Euro Area in December 2023.
Excluding the impacts of energy, food, alcohol and tobacco prices year-over-year inflation was slowed to 4.0% in the European Union and 3.4% in the Euro Area in December 2023.
ANNUAL 2023
In the European Union, inflation slowed to 6.4% in 2023 from 9.2% in 2022. In the Euro Area, inflation was 5.4% in 2023, down from 8.4% in 2022.
Source: Eurostat