12/2019 - 17 January 2019
With the release of the January 2019 HICP flash estimate on 1 February, Eurostat will improve the calculation of thespecial aggregates by using more detailed input data and include at the same time the revised index of package holidays for Germany. Related revisions to back data will be implemented with the regular January 2019 release of 22 February.
December 2018
Annual inflation down to 1.6% in the euro area
Down to 1.7% in the EU
The euro area annual inflation rate was 1.6% in December 2018, down from 1.9% in November. A year earlier, the rate was 1.4%. European Union annual inflation was 1.7% in December 2018, down from 2.0% in November. A year earlier, the rate was 1.7%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Greece and Portugal (both 0.6%) and Denmark (0.7%). The highest annual rates were recorded in Estonia (3.3%), Romania (3.0%) and Hungary (2.8%). Compared with November 2018, annual inflation fell in twenty-two Member States, remained stable in three and rose in three.
In December 2018, the highest contribution to the annual euro area inflation rate came from services (+0.58 percentage points, pp), followed by energy (+0.53 pp), food, alcohol & tobacco (+0.34 pp) and non-energy industrial goods (+0.12 pp).
Annual inflation rates (%) in December 2018, in ascending order
4
3.3
2.8 3.0
3
2.2 2.2 2.3 2.5
1.7 1.7 1.7 1.8 1.9 1.9 1.9 1.9 2.1
2
1.0 1.0 1.2 1.2 1.2 1.3 1.4 1.6 1.6
1 0
0.6 0.6 0.7 0.8 0.9
Greece Portugal Denmark
Ireland
Poland
Croatia
Cyprus Spain Italy Malta
Finland Slovenia Euroarea
Czechia
EU Germany
Austria Lithuania
France Luxembourg Netherlands
Slovakia UnitedKingdom
Belgium
Sweden Bulgaria
Latvia Hungary Romania
Estonia
Inflation rates (%) measured by the HICP
Annual rate | Monthly rate | |||||||
Dec 17 | Jul 18 | Aug 18 | Sep 18 | Oct 18 | Nov 18 | Dec 18 | Dec 18 | |
Euro area | 1.4 | 2.1 | 2.0 | 2.1 | 2.2 | 1.9 | 1.6 | 0.0 |
EU | 1.7 | 2.2 | 2.2 | 2.1 | 2.2 | 2.0 | 1.7 | 0.0 |
Belgium | 2.1 | 2.7 | 2.6 | 2.8 | 3.2 | 2.9 | 2.2 | -0.2 |
Bulgaria | 1.8 | 3.6 | 3.7 | 3.6 | 3.6 | 3.0 | 2.3 | 0.0 |
Czechia | 2.2 | 2.2 | 2.4 | 2.1 | 2.0 | 1.6 | 1.6 | 0.0 |
Denmark | 0.8 | 0.9 | 0.8 | 0.5 | 0.7 | 0.7 | 0.7 | -0.4 |
Germany | 1.6 | 2.1 | 1.9 | 2.2 | 2.4 | 2.2 | 1.7 | 0.3 |
Estonia | 3.8 | 3.3 | 3.5 | 3.5 | 4.5 | 3.2 | 3.3 | -0.3 |
Ireland | 0.5 | 1.0 | 0.9 | 1.2 | 1.1 | 0.8 | 0.8 | -0.1 |
Greece | 1.0 | 0.8 | 0.9 | 1.1 | 1.8 | 1.1 | 0.6 | -0.1 |
Spain | 1.2 | 2.3 | 2.2 | 2.3 | 2.3 | 1.7 | 1.2 | -0.5 |
France | 1.2 | 2.6 | 2.6 | 2.5 | 2.5 | 2.2 | 1.9 | 0.1 |
Croatia | 1.3 | 2.2 | 2.1 | 1.6 | 1.7 | 1.3 | 1.0 | -0.6 |
Italy | 1.0 | 1.9 | 1.6 | 1.5 | 1.7 | 1.6 | 1.2 | -0.1 |
Cyprus | -0.4 | 1.4 | 1.7 | 1.7 | 1.9 | 1.6 | 1.0 | -0.9 |
Latvia | 2.2 | 2.7 | 2.8 | 3.3 | 3.2 | 2.9 | 2.5 | -0.3 |
Lithuania | 3.8 | 2.3 | 1.8 | 2.4 | 2.8 | 2.4 | 1.8 | -0.5 |
Luxembourg | 1.6 | 2.5 | 2.4 | 2.7 | 2.8 | 2.6 | 1.9 | -0.7 |
Hungary | 2.2 | 3.4 | 3.4 | 3.7 | 3.9 | 3.2 | 2.8 | -0.4 |
Malta | 1.3 | 2.1 | 2.4 | 2.5 | 2.1 | 1.4 | 1.2 | -0.2 |
Netherlands | 1.2 | 1.9 | 1.9 | 1.6 | 1.9 | 1.8 | 1.9 | 0.0 |
Austria | 2.3 | 2.3 | 2.3 | 2.1 | 2.4 | 2.3 | 1.7 | 0.1 |
Poland | 1.7 | 1.4 | 1.4 | 1.5 | 1.5 | 1.1 | 0.9 | 0.0 |
Portugal | 1.6 | 2.2 | 1.3 | 1.8 | 0.8 | 0.9 | 0.6 | -0.4 |
Romania | 2.6 | 4.3 | 4.7 | 4.7 | 4.2 | 3.2 | 3.0 | 0.1 |
Slovenia | 1.9 | 2.1 | 2.0 | 2.2 | 2.3 | 2.1 | 1.4 | -0.6 |
Slovakia | 2.0 | 2.6 | 2.9 | 2.7 | 2.5 | 2.0 | 1.9 | -0.1 |
Finland | 0.5 | 1.4 | 1.4 | 1.4 | 1.7 | 1.4 | 1.3 | -0.2 |
Sweden | 1.7 | 2.2 | 2.1 | 2.5 | 2.4 | 2.1 | 2.2 | 0.5 |
United Kingdom | 3.0 | 2.5 | 2.7 | 2.4 | 2.4 | 2.3 | 2.1 | 0.2 |
Iceland | -1.0 | 1.9 | 2.1 | 1.2 | 0.9 | 1.5 | 2.0 | 1.9 |
Norway | 1.5 | 3.5 | 3.9 | 3.8 | 3.6 | 3.8 | 3.9 | 0.0 |
Switzerland | 1.1 | 1.2 | 1.3 | 1.1 | 1.1 | 1.0 | 0.8 | 0.0 |
The source dataset is availablehere.
Annual inflation rate (%) in the euro area and the European Union
4
3
2 1 0 -1
Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec Mar Jun Sep Dec
2008 2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Euro area inflation rate (%), selected aggregates
Weight (‰) | Annual rate | Monthly | |||||||
rate | |||||||||
2018 | Dec 17 | Jul 18 | Aug 18 | Sep 18 | Oct 18 | Nov 18 | Dec 18 | Dec 18 | |
All-items HICP | 1000.0 | 1.4 | 2.1 | 2.0 | 2.1 | 2.2 | 1.9 | 1.6 | 0.0 |
All-items excluding: > energy | 903.0 | 1.2 | 1.4 | 1.3 | 1.3 | 1.3 | 1.2 | 1.1 | 0.4 |
> energy, unprocessed food | 828.2 | 1.1 | 1.3 | 1.2 | 1.1 | 1.2 | 1.1 | 1.1 | 0.4 |
> energy, food, alcohol & tobacco | 707.3 | 0.9 | 1.1 | 0.9 | 0.9 | 1.1 | 1.0 | 1.0 | 0.5 |
> energy, seasonal food | 862.6 | 1.2 | 1.3 | 1.1 | 1.1 | 1.2 | 1.1 | 1.1 | 0.3 |
> tobacco | 976.7 | 1.3 | 2.1 | 1.9 | 2.0 | 2.1 | 1.9 | 1.5 | 0.0 |
Food, alcohol & tobacco | 195.7 | 2.1 | 2.5 | 2.4 | 2.6 | 2.2 | 1.9 | 1.8 | 0.0 |
> processed food, alcohol & tobacco | 121.0 | 2.2 | 2.4 | 2.4 | 2.2 | 2.2 | 2.0 | 1.7 | -0.2 |
> unprocessed food | 74.8 | 1.9 | 2.6 | 2.5 | 3.2 | 2.1 | 1.8 | 1.9 | 0.4 |
Energy | 97.0 | 2.9 | 9.5 | 9.2 | 9.5 | 10.7 | 9.1 | 5.4 | -3.2 |
Non-energy industrial goods | 263.3 | 0.5 | 0.5 | 0.3 | 0.3 | 0.4 | 0.4 | 0.4 | -0.2 |
Services | 443.9 | 1.2 | 1.4 | 1.3 | 1.3 | 1.5 | 1.3 | 1.3 | 0.9 |
Contributions to the euro area annual inflation rate (pp), selected aggregates
Contributions | |||||||
Dec 17 | Jul 18 | Aug 18 | Sep 18 | Oct 18 | Nov 18 | Dec 18 | |
Food, alcohol & tobacco | 0.41 | 0.49 | 0.48 | 0.51 | 0.42 | 0.38 | 0.34 |
> processed food, alcohol & tobacco | 0.27 | 0.30 | 0.29 | 0.27 | 0.27 | 0.24 | 0.20 |
> unprocessed food | 0.14 | 0.20 | 0.19 | 0.24 | 0.16 | 0.14 | 0.14 |
Energy | 0.28 | 0.89 | 0.88 | 0.91 | 1.02 | 0.88 | 0.53 |
Non-energy industrial goods | 0.13 | 0.12 | 0.08 | 0.08 | 0.11 | 0.11 | 0.12 |
Services | 0.54 | 0.64 | 0.59 | 0.57 | 0.65 | 0.57 | 0.58 |
The full dataset is available in the Eurostat onlinedatabase.
Geographical coverage
The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
The euro area and European Union data refer to the respective country compositions at a specific point in time. New Member States are integrated into the aggregates using a chain index formula.
Methods and definitions
The annual rate measures the change of the Harmonised Indices of Consumer Prices (HICP) between a month and the same month of the previous year, and the monthly rate compares the indices between the two latest months.
A contribution shows how much of the annual inflation rate comes from a particular component of the HICP. The contributions are calculated according to a method which ensures their additivity (allowing for rounding).
Revisions and timetable
A flash estimate of euro area inflation is issued at the end of each reference month. The euro areaflash estimate forDecember 2018, published on 4 January 2019, was 1.6%.
The next flash estimate of euro area inflation with data for January 2019 is scheduled for 1 February 2019.
For more information
Eurostatwebsite section on inflation Eurostatdatabase section on inflation
EurostatStatistics Explained article on inflation in the euro area Eurostatmetadata on inflation
Eurostat €-indicatorsrelease calendar
Issued by: Eurostat Press Office
For further information on methodology:
Baiba GRANDOVSKA
Tel: +352-4301-33 444eurostat-pressoffice@ec.europa.eu
Lenka VALENTA
Tel: +352-4301-33 176estat-hicp@ec.europa.eu
EurostatStatistics
ec.europa.eu/eurostat/
@EU_EurostatMedia requests: Eurostat media support / Tel: +352-4301-33 408 /eurostat-mediasupport@ec.europa.eu
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EUROSTAT - European Union Statistical Office published this content on 17 January 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 January 2019 12:03:10 UTC