Eurozone annual inflation stable at 0.8 percent

Eurozone annual inflation was 0.8 percent in January 2014, stable compared to December 2013. A year earlier the rate was 2.0 percent. Monthly inflation was -1.1 percent in January 2014. European Union annual inflation was 0.9 percent in January 2014, down from 1.0 percent in December 2013.
A year earlier the rate was 2.1 percent Monthly inflation was -0.9 percent in January 2014. These figures come from Eurostat, the statistical office of the European Union. In January 2014, negative annual rates were observed in Cyprus (-1.6 percent), Greece (-1.4 percent) and Bulgaria (-1.3 percent). The highest annual rates were recorded in the United Kingdom and Finland (both 1.9 percent). Compared with December 2013, annual inflation fell in seventeen Member States, remained stable in seven and rose in four. The lowest 12 month average rates up to January 2014 were registered in Greece (-1.0 percent), Latvia (0.0 percent), Bulgaria and Cyprus (both 0.1 percent), and the highest in Estonia (3.1 percent), Romania (2.9 percent) and the United Kingdom (2.5 percent). The largest upward impacts to eurozone annual inflation came from tobacco (+0.08 percentage points), electricity and milk, cheese and eggs (+0.05 each), while fuels for transport (-0.19), telecommunications (-0.13) and heating oil (-0.05) experienced the biggest drop.