Eurozone Inflation Eases To 1.9%

(RTTNews) - Eurozone inflation eased more than initially estimated in December, final data from Eurostat showed on Monday.

The harmonized index of consumer prices rose by revised 1.9 percent year-on-year following an increase of 2.1 percent in each of the previous two months.

Eurostat initially reported that inflation hit the 2 percent target in December. Core inflation, which excludes prices of energy and fresh food, slowed to 2.3 percent, in line with estimate, from 2.4 percent logged in the previous three months.

Energy prices decreased 1.9 percent year-on-year after a 0.5 percent drop in the previous month. The decline was the worst since August when they fell 2.0 percent. Services inflation softened marginally to 3.4 percent from 3.5 percent.

Prices of food, alcohol and tobacco increased 2.5 percent year-on-year following a 2.4 percent rise in November. The rate of increase in prices of non-energy industrial goods eased to 0.4 percent from 0.5 percent.

The HICP rose 0.2 percent month-on-month in December, in line with the initial estimate released on January 7.