Eurozone Inflation Surged to Record High, 5.0% in December

Source: Eurostat

The euro area annual inflation rate was 5.0% in December 2021, a record high compared to 4.9% posted in November. Euro Stoxx 50 up +0.31%, EUR USD down -0.04%

• Energy prices were the biggest contributor, increasing by 25.9% year on year as the increase in gas and electricity prices hurt household budgets.
• Meanwhile, price pressures were broader than energy. Food, alcohol & tobacco increased by 3.2%, industrial goods prices rose by 2.9%, and services cost expanded by 2.4%.
• The highest annual rates were posted in Estonia (120%), followed by Lithuania (10.7%) and Poland (8.0%). 
• Malta led other countries posting the lowest annual rates of 2.6%, Portugal (2.8%) and Finland (3.2%).
• In the wider European Union region, prices increased by 5.3% in the year to December. The increase was higher than the 5.2% surge posted in November.