Eurozone1 annual inflation was 1.1% in
January 20092, down from 1.6% in December. A year earlier the rate
was 3.2%. Monthly inflation was -0.8% in January 2009.
EU3 annual inflation was 1.7% in
January 2009, down from 2.2% in December. A year earlier the rate was 3.4%.
Monthly inflation was -0.6% in January 2009. These figures come from Eurostat,
the Statistical Office of the European Union.
Inflation in the EU Member
States
In January 2009, the lowest annual rates were
observed in Luxembourg (0.0%), Portugal (0.1%), Spain and France (0.8% each),
and the highest in Latvia (9.7%), Lithuania (9.5%) and Romania (6.8%). Compared
with December 2008, annual inflation fell in twenty-four Member States, remained
stable in one and rose in two.
The lowest 12-month averages4 up to
January 2009 were registered in the Netherlands (2.2%), Portugal (2.4%) and
Germany (2.6%), and the highest in Latvia (14.7%), Bulgaria (11.4%) and
Lithuania (11.0%).
Eurozone
The main components with the highest annual rates
in January 2009 were alcohol & tobacco (3.2%), housing (3.1%) and hotels &
restaurants (3.0%), while the lowest annual rates were observed for transport
(-3.2%), communications (-1.9%) and clothing (-0.6%). Concerning the detailed
sub-indices, gas (+0.22 percentage points), restaurants & cafés (+0.17) and
electricity (+0.12) had the largest upward impacts on the headline rate, while
fuels for transport (-0.89), heating oil (-0.21) and garments (-0.11) had the
biggest downward impacts.
The main components with the highest monthly
rates were alcohol & tobacco (0.6%), food and housing (0.5% each), while the
lowest were clothing (-10.6%), recreation & culture (-2.0%) and hotels &
restaurants (-0.6%). In particular, restaurants & cafés (+0.08 percentage
points) had the largest upward impacts, while garments (-0.57), package holidays
(-0.20) and footwear (-0.10) had the biggest downward impacts.
Annual
inflation (%) in January 2009 in ascending order
Eurozone
|
LU
|
PT
|
ES
|
FR
|
DE
|
CY
|
IE
|
Eurozone
|
|
0.0
|
0.1
|
0.8
|
0.8
|
0.9
|
0.9
|
1.1
|
1.1p
|
|
AT
|
IT
|
SI
|
NL
|
EL
|
BE
|
FI
|
SK1
|
MT
|
|
1.2p
|
1.4
|
1.4
|
1.7p
|
2.0
|
2.1
|
2.5
|
2.7p
|
3.1
|
EU Member
States outside the Eurozone
|
CZ
|
DK
|
EU
|
SE
|
HU
|
UK
|
PL
|
EE
|
BG
|
RO
|
LT
|
LV
|
|
1.4
|
1.7
|
1.7p
|
2.0
|
2.4
|
3.0
|
3.1
|
4.7
|
6.0p
|
6.8
|
9.5
|
9.7
|
Inflation rates
in %, measured by HICPs
|
Annual rates
|
12 month
average rates4
|
Monthly rates
|
|
Jan 09
Jan 08
|
Dec 08
Dec 07
|
Nov 08
Nov 07
|
Oct 08
Oct 07
|
Jan 08
Jan 07
|
Jan
09-08
Jan 08-07
|
Jan 09
Dec 08
|
|
Belgium (BE)
|
2.1
|
2.7
|
3.2
|
4.8
|
3.5
|
4.4
|
-1.9
|
|
Germany (DE)
|
0.9
|
1.1
|
1.4
|
2.5
|
2.9
|
2.6
|
-0.6
|
|
Ireland (IE)
|
1.1
|
1.3
|
2.1
|
2.7
|
3.1
|
2.9
|
-0.8
|
|
Greece (EL)
|
2.0
|
2.2
|
3.0
|
4.0
|
3.9
|
4.1
|
-0.5
|
|
Spain (ES)
|
0.8
|
1.5
|
2.4
|
3.6
|
4.4
|
3.8
|
-1.3
|
|
France (FR)5
|
0.8
|
1.2
|
1.9
|
3.0
|
3.2
|
3.0
|
-0.4
|
|
Italy (IT)
|
1.4
|
2.4
|
2.7
|
3.6
|
3.1
|
3.4
|
-1.7
|
|
Cyprus (CY)
|
0.9
|
1.8
|
3.1
|
4.8
|
4.1
|
4.1
|
-2.3
|
|
Luxembourg (LU)
|
0.0
|
0.7
|
2.0
|
3.9
|
4.2
|
3.7
|
-1.1
|
|
Malta (MT)
|
3.1
|
5.0
|
4.9
|
5.7
|
3.8
|
4.6
|
-2.2
|
|
Netherlands (NL)
|
1.7p
|
1.7
|
1.9
|
2.5
|
1.8
|
2.2p
|
0.0p
|
|
Austria (AT)
|
1.2p
|
1.5
|
2.3
|
3.0
|
3.1
|
3.1p
|
-0.6p
|
|
Portugal (PT)
|
0.1
|
0.8
|
1.4
|
2.5
|
2.9
|
2.4
|
-0.9
|
|
Slovenia (SI)
|
1.4
|
1.8
|
2.9
|
4.8
|
6.4
|
5.1
|
-0.3
|
|
Slovakia (SK)1
|
2.7p
|
3.5
|
3.9
|
4.2
|
3.2
|
3.9p
|
0.3p
|
|
Finland (FI)
|
2.5
|
3.4
|
3.5
|
4.4
|
3.5
|
3.8
|
0.3
|
|
Eurozone (MUICP)
|
1.1p
|
1.6
|
2.1
|
3.2
|
3.2
|
3.1p
|
-0.8p
|
|
Bulgaria (BG)
|
6.0p
|
7.2
|
8.8
|
11.2
|
11.7
|
11.4p
|
0.5p
|
|
Czech Republic (CZ)
|
1.4
|
3.3
|
4.1
|
5.7
|
7.9
|
5.7
|
1.4
|
|
Denmark (DK)
|
1.7
|
2.4
|
2.8
|
3.8
|
3.0
|
3.5
|
-0.4
|
|
Estonia (EE)
|
4.7
|
7.5
|
8.5
|
10.1
|
11.3
|
10.0
|
-0.6
|
|
Latvia (LV)
|
9.7
|
10.4
|
11.6
|
13.7
|
15.6
|
14.7
|
2.1
|
|
Lithuania (LT)
|
9.5
|
8.5
|
9.2
|
10.7
|
10.0
|
11.0
|
2.6
|
|
Hungary (HU)
|
2.4
|
3.4
|
4.1
|
5.1
|
7.4
|
5.6
|
0.7
|
|
Poland (PL)
|
3.1
|
3.3
|
3.6
|
4.0
|
4.4
|
4.1
|
0.3
|
|
Romania (RO)
|
6.8
|
6.4
|
6.8
|
7.4
|
7.3
|
7.9
|
1.2
|
|
Sweden (SE)
|
2.0
|
2.1
|
2.4
|
3.4
|
3.0
|
3.3
|
-0.1
|
|
United Kingdom
(UK)
|
3.0
|
3.1
|
4.1
|
4.5
|
2.2
|
3.7
|
-0.7
|
|
EU (EICP)
|
1.7p
|
2.2
|
2.8
|
3.7
|
3.4
|
3.5p
|
-0.6p
|
|
Iceland (IS)
|
21.9
|
21.0
|
19.8
|
17.9
|
3.1
|
14.3
|
0.6
|
|
Norway (NO)
|
2.6
|
2.6
|
3.3
|
5.1
|
2.9
|
3.4
|
-0.4
|
|
EEA (EEAICP)
|
1.8p
|
2.2
|
2.8
|
3.7
|
3.4
|
3.5p
|
-0.6p
|
|
Switzerland (CH)
|
-0.1
|
0.3
|
1.2
|
2.6
|
2.5
|
2.1
|
-0.5
|
Source: Eurostat p = provisional : = data not
available
Eurozone inflation rates in % for
main components, measured by HICPs
|
Weight used in
2009
|
Annual rates
|
12 month
average rates4
|
Monthly rates
|
|
Eurozone (MUICP)
|
|
Jan 09
Jan 08
|
Dec 08
Dec 07
|
Nov 08
Nov 07
|
Oct 08
Oct 07
|
Jan 08
Jan 07
|
Jan
09-08
Jan 08-07
|
Jan 09
Dec 08
|
|
00 All-items
|
1000.0
|
1.1p
|
1.6
|
2.1
|
3.2
|
3.2
|
3.1p
|
-0.8p
|
|
01 Food
|
156.2
|
2.6p
|
3.2
|
3.7
|
4.7
|
5.4
|
5.3p
|
0.5p
|
|
02 Alcohol and tobacco
|
37.1
|
3.2p
|
3.5
|
3.5
|
3.3
|
2.9
|
3.3p
|
0.6p
|
|
03 Clothing
|
67.8
|
-0.6p
|
0.8
|
0.8
|
0.9
|
0.5
|
0.6p
|
-10.6p
|
|
04 Housing
|
156.3
|
3.1p
|
3.6
|
4.5
|
5.9
|
4.0
|
5.1p
|
0.5p
|
|
05 Household equipment
|
71.1
|
1.8p
|
2.2
|
2.1
|
2.2
|
2.0
|
2.1p
|
-0.5p
|
|
06 Health
|
41.7
|
1.4p
|
2.2r
|
2.1
|
2.2
|
2.0
|
1.8p
|
0.3p
|
|
07 Transport
|
151.4
|
-3.2p
|
-2.5
|
-0.6
|
3.7
|
5.6
|
3.8p
|
-0.3p
|
|
08 Communications
|
32.2
|
-1.9p
|
-1.8
|
-2.1
|
-2.2
|
-2.9
|
-2.1p
|
-0.2p
|
|
09 Recreation and culture
|
96.6
|
0.5p
|
0.3
|
0.6
|
0.2
|
0.1
|
0.2p
|
-2.0p
|
|
10 Education
|
10.4
|
1.2p
|
1.4
|
1.3
|
1.5
|
9.4
|
3.7p
|
0.1p
|
|
11 Hotels and restaurants
|
94.4
|
3.0p
|
3.3
|
3.4
|
3.6
|
3.2
|
3.4p
|
-0.6p
|
|
12 Miscellaneous
|
84.7
|
2.3p
|
2.4
|
2.5
|
2.6
|
2.2
|
2.4p
|
0.4p
|
|
All-items
-excl. energy
|
904.3
|
1.8p
|
2.2r
|
2.3
|
2.5
|
2.4
|
2.5p
|
-0.9p
|
|
-excl. energy, FoodAlcTob*
|
711.0
|
1.6p
|
1.8
|
1.9
|
1.9
|
1.7
|
1.8p
|
-1.3p
|
|
-excl. energy, unproc. food
|
829.7
|
1.8p
|
2.1
|
2.2
|
2.4
|
2.3
|
2.4p
|
-1.1p
|
|
-excl. energy, seas. food
|
866.2
|
1.8p
|
2.2
|
2.3
|
2.5
|
2.4
|
2.4p
|
-1.0p
|
|
-excl. tobacco
|
977.4
|
1.1p
|
1.5
|
2.1
|
3.2
|
3.2
|
3.1p
|
-0.9p
|
|
Energy
|
95.7
|
-5.3p
|
-3.7
|
0.7
|
9.6
|
10.6
|
8.9p
|
0.0p
|
|
FoodAlcTob*
|
193.3
|
2.7p
|
3.3
|
3.7
|
4.4
|
4.9
|
4.9p
|
0.5p
|
Source: Eurostat * FoodAlcTob = Food, alcohol and
tobacco p = provisional r = revised
- Eurozone inflation is measured by the MUICP
(’Monetary Union Index of Consumer Prices’) which is the official euro area
aggregate. The Eurozone initially included Belgium, Germany, Ireland, Spain,
France, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland.
Greece was included from 1 January 2001, Slovenia from 1 January 2007,
Cyprus and Malta from 1 January 2008 and Slovakia from 1 January 2009. New
Member States are integrated into the MUICP using a chain index formula.
- The MUICP flash estimate for January 2009,
published on 30 January 2009, was 1.1%.
- EU inflation is measured by the EICP
(’European Index of Consumer Prices’ as defined in Council Regulation (EC)
No 2494/95 of 23 October 1995) which is the official EU aggregate. The EU
included 15 Member States until 30 April 2004, 25 Member States from 1 May
2004 until 31 December 2006 and 27 Member States from 1 January 2007. New
Member States are integrated into the EICP using a chain index formula.
- Measure used to determine price stability in
Convergence reports by the Commission to the Council.
- France has revised its HICP for the period
January to December 2008, in order to take into account the end of free
ambulance services. This revision had no impact on the all-items HICP annual
inflation rate. It is however visible in many subindices due to changed
regional weightings used in the computation.
