[Francisco Loureiro/Reuters]
Inflation in Greece rose to 2.9% in December, according to Eurostat data, up from 2.8% in November after two months of decline. On a monthly basis, prices increased around 0.2%.
In the eurozone, preliminary Eurostat data for December showed the consumer price index at 2%, remaining close to the European Central Bank’s (ECB) target, down slightly from 2.1% in December.
Within the euro area, services contributed 3.4% to the final inflation rate in December, down from 3.5% in November. The food, alcohol and tobacco category rose to 2.6% from 2.4%, non-energy industrial goods decreased to 0.4% from 0.5%, and energy remained negative at -1.9%, compared with 0.5% in November.
Core inflation, which excludes volatile prices of energy, food, alcohol and tobacco, fell to 2.3% in the euro zone after three months at 2.4%. In Greece, core inflation stood at 3.2%, with services at 4.5%, energy at -1%, non-energy industrial goods at -0.1% and food, including alcohol and tobacco, at 3.5%.
At its December meeting, the ECB kept interest rates unchanged for the fourth time and revised growth forecasts upward. ECB President Christine Lagarde said at the subsequent press conference that the Eurozone economy had improved, describing as pleasant surprises the resilience to shocks in international trade and the increase in private sector investment, which she attributed to artificial intelligence.