Euro area annual inflation was 3,2% in January 20082, up from 3,1% in December 2007, a year earlier the rate was 1,8%, monthly inflation was -0,4% in January 2008.
EU3 annual inflation was 3.4% in January 2008, up from 3.2% in December 2007. A year earlier the rate was 2.1%. Monthly inflation was -0.2% in January 2008.
These figures come from Eurostat, the Statistical Office of the European Communities.
Inflation in the EU Member States
In January 2008, the lowest annual rates were observed in the Netherlands (1.8%), the United Kingdom (2.2%), Germany and
Portugal (both 2.9%), and the highest in Latvia (15.6%), Bulgaria (11.7%) and Estonia (11.3%). Compared with December 2007,
annual inflation rose in twenty-one Member States, remained stable in two and fell in four.
The lowest 12-month averages4 up to January 2008 were registered in Malta (0.9%), the Netherlands (1.6%), Denmark, France,
Finland and Sweden (1.8% each), and the highest in Latvia (10.8%), Bulgaria (8.0%) and Hungary (7.8%).
The main components with the highest annual rates in January 2008 were education (9.4%), transport (5.7%) and food (5.4%), while the lowest annual rates were observed for communications
(-2.9%), recreation & culture (0.1%) and clothing (0.5%). Concerning the detailed sub-indices, fuels for transport ( 0.54 percentage points), heating oil ( 0.22) and milk, cheese & eggs
( 0.21) had the largest upward impacts on the headline rate, while telecommunications (-0.19), garments (-0.14) and cars (-0.12) had the biggest downward impacts.
The main components with the highest monthly rates were food (1.1%), housing and health (both 1.0%), and the lowest were clothing (-9.3%), recreation & culture (-2.2%) and hotels &
restaurants (-0.3%). In particular, gas ( 0.08 percentage points), restaurants & cafés ( 0.07) and fuels for transport ( 0.06) had the largest upward impacts, while garments (-0.51),
package holidays (-0.19) and footwear (-0.11) had the biggest downward impacts.