STAT/13/29
28 February 2013
January 2013
Euro area annual inflation down to 2.0%
EU down to 2.1%
Euro area1 annual inflation was 2.0% in January 20132, down from 2.2% in December 2012. A year earlier the rate was 2.7%. Monthly inflation was -1.0% in January 2013.
EU3 annual inflation was 2.1% in January 2013, down from 2.3% in December 2012. A year earlier the rate was 2.9%. Monthly inflation was -0.8% in January 2013.
These figures come from Eurostat, the statistical office of the European Union.
In January 2013, the lowest annual rates were observed in Greece (0.0%), Portugal (0.4%) and Latvia (0.6%), and the highest in Romania (5.1%), Estonia (3.7%) and the Netherlands (3.2%). Compared with December 2012, annual inflation fell in twenty-three Member States, remained stable in one and rose in three. The lowest 12-month average rates up to January 2013 were registered in Greece and Sweden (both 0.9%) and Ireland (1.9%), and the highest in Hungary (5.4%), Estonia (4.1%), Romania and Slovakia (both 3.6%).
Euro area
The largest upward impacts on euro area annual inflation in January 2013 came from electricity (+0.16 percentage points), vegetables (+0.09) and tobacco (+0.07), while telecommunications (-0.20), medical & paramedical services (-0.08) and garments (-0.06) had the biggest downward impacts.
Annual inflation (%) in January 2013, in ascending order
Data for Austria, Bulgaria, the euro area and the EU are provisional.
Inflation rates4 in %, measured by HICPs
| |||||||||||||||||||||
Belgium5 | 1.5 | 2.1 | 2.2 | 2.7r | 3.3 | 2.5 | -1.8 | ||||||||||||||
Germany | 1.9 | 2.0 | 1.9 | 2.1 | 2.3 | 2.1 | -0.7 | ||||||||||||||
Estonia | 3.7 | 3.6 | 3.8 | 4.2 | 4.7 | 4.1 | 0.6 | ||||||||||||||
Ireland | 1.5 | 1.7 | 1.6 | 2.1 | 1.3 | 1.9 | -0.6 | ||||||||||||||
Greece | 0.0 | 0.3 | 0.4 | 0.9 | 2.1 | 0.9 | -1.4 | ||||||||||||||
Spain | 2.8 | 3.0 | 3.0 | 3.5 | 2.0 | 2.5 | -1.8 | ||||||||||||||
France | 1.4 | 1.5 | 1.6 | 2.1 | 2.6 | 2.1 | -0.6 | ||||||||||||||
Italy | 2.4 | 2.6 | 2.6 | 2.8 | 3.4 | 3.2 | -2.0 | ||||||||||||||
Cyprus | 2.0 | 1.5 | 1.4 | 2.6 | 3.1 | 3.0 | -0.8 | ||||||||||||||
Luxembourg | 2.1 | 2.5 | 2.7 | 3.2 | 3.2 | 2.8 | -0.9 | ||||||||||||||
Malta | 2.4 | 2.8 | 3.6 | 3.2 | 1.7 | 3.3 | -1.4 | ||||||||||||||
Netherlands | 3.2 | 3.4 | 3.2 | 3.3 | 2.9 | 2.9 | 0.0 | ||||||||||||||
Austria | 2.8p | 2.9 | 2.9 | 2.9 | 2.9 | 2.6p | -0.6p | ||||||||||||||
Portugal | 0.4 | 2.1 | 1.9 | 2.1 | 3.4 | 2.5 | -1.3 | ||||||||||||||
Slovenia | 2.8 | 3.1 | 2.8 | 3.2 | 2.3 | 2.9 | -0.6 | ||||||||||||||
Slovakia | 2.5 | 3.4 | 3.5 | 3.9 | 4.1 | 3.6 | 0.7 | ||||||||||||||
Finland | 2.6 | 3.5 | 3.2 | 3.5 | 3.0 | 3.1 | 0.0 | ||||||||||||||
Euro area (MUICP) | 2.0p | 2.2 | 2.2 | 2.5 | 2.7 | 2.4p | -1.0p | ||||||||||||||
Bulgaria | 2.6p | 2.8 | 2.7 | 3.0 | 1.9 | 2.4p | 0.2p | ||||||||||||||
Czech Republic | 1.8 | 2.4 | 2.8 | 3.6 | 3.8 | 3.4 | 1.2 | ||||||||||||||
Denmark | 1.0 | 1.9 | 2.2 | 2.3 | 2.8 | 2.2 | -0.5 | ||||||||||||||
Latvia | 0.6 | 1.6 | 1.5 | 1.6 | 3.4 | 2.0 | -0.2 | ||||||||||||||
Lithuania | 2.7 | 2.9 | 2.8 | 3.2 | 3.4 | 3.1 | 0.2 | ||||||||||||||
Hungary | 2.8 | 5.1 | 5.3 | 6.0 | 5.6 | 5.4 | 0.2 | ||||||||||||||
Poland | 1.6 | 2.2 | 2.7 | 3.4 | 4.1 | 3.5 | 0.1 | ||||||||||||||
Romania | 5.1 | 4.6 | 4.4 | 5.0 | 2.8 | 3.6 | 0.9 | ||||||||||||||
Sweden6 | 0.7 | 1.0r | 0.8 | 1.2 | 0.7 | 0.9 | -1.0 | ||||||||||||||
United Kingdom | 2.7 | 2.7 | 2.7 | 2.7 | 3.6 | 2.8 | -0.5 | ||||||||||||||
EU (EICP) | 2.1p | 2.3 | 2.4 | 2.6 | 2.9 | 2.6p | -0.8p | ||||||||||||||
Iceland | 6.1 | 5.1 | 6.0 | 5.1 | 6.2 | 6.0 | 0.6 | ||||||||||||||
Norway | 1.2 | 1.1 | 0.9 | 0.8 | 0.3 | 0.5 | -0.4 | ||||||||||||||
Switzerland | -0.1 | -0.3 | -0.1 | -0.1 | -0.9 | -0.7 | -0.5 | ||||||||||||||
Source: Eurostat p = provisional r = revised
Annual inflation (%) in the euro area and European Union
Euro area inflation rates in % for selected aggregates
Euro area (MUICP) |
| |||||||||||||||||||||||
All-items excluding: > energy | 890.4 | 1.8p | 1.8 | 1.8 | 1.8 | 1.9 | 1.9p | -1.3p | ||||||||||||||||
> energy, food, alcohol & tobacco | 696.7 | 1.3p | 1.5 | 1.4 | 1.5 | 1.5 | 1.5p | -1.8p | ||||||||||||||||
> energy, unprocessed food | 816.9 | 1.5p | 1.6 | 1.5r | 1.6 | 1.9 | 1.7p | -1.5p | ||||||||||||||||
> energy, seasonal food | 852.7 | 1.6p | 1.7 | 1.6 | 1.7 | 2.0 | 1.8p | -1.4p | ||||||||||||||||
> tobacco | 975.8 | 1.9p | 2.2 | 2.1 | 2.4 | 2.6 | 2.4p | -1.1p | ||||||||||||||||
Energy | 109.6 | 3.9p | 5.2 | 5.7 | 8.0 | 9.2 | 7.2p | 1.3p | ||||||||||||||||
Food, alcohol and tobacco | 193.7 | 3.2p | 3.2 | 3.0 | 3.1 | 3.1 | 3.1p | 0.5p | ||||||||||||||||
Non-energy industrial goods | 273.6 | 0.8p | 1.0 | 1.1 | 1.1 | 0.9 | 1.2p | -3.8p | ||||||||||||||||
Services | 423.0 | 1.6p | 1.8 | 1.6 | 1.7 | 1.9 | 1.7p | -0.5p | ||||||||||||||||
Source: Eurostat p = provisional r = revised
Sub-indices with most important impacts on euro area annual inflation7
Sub-index |
| |||||||||
04.51 | Electricity | 25.9 | 8.1p | 0.16 | ||||||
01.17 | Vegetables | 15.2 | 7.9p | 0.09 | ||||||
02.20 | Tobacco | 24.2 | 4.7p | 0.07 | ||||||
03.12 | Garments | 49.1 | 0.2p | -0.06 | ||||||
06.21/3 | Medical and paramedical services | 11.3 | -4.8p | -0.08 | ||||||
08.2/3 | Telecommunications | 29.4 | -4.4p | -0.20 | ||||||
Source: Eurostat p = provisional
The euro area inflation is measured by the Monetary Union Index of Consumer Prices (MUICP) as defined in Council Regulation (EC) No 2494/95 of 23 October 1995. The data refers to the euro area country composition at any specific point in time. New Member States are integrated into the MUICP using a chain index formula.
The euro area flash estimate for January 2013, published on 1 February 2013, was 2.0%.
The European Union (EU) inflation is measured by the European Index of Consumer Prices (EICP) as defined in Council Regulation (EC) No 2494/95 of 23 October 1995. The data refers to the EU country composition at any specific point in time. New Member States are integrated into the EICP using a chain index formula.
An annual rate measures the price change between a month and the same month of the previous year. A 12-month average rate compares the average Harmonised Indices of Consumer Prices (HICPs) of the latest 12 months to the average of the preceding 12 months. A monthly rate compares price levels between the two latest months.
Belgium has revised figures for package holidays for 2012 due to a methodological change in the treatment of price data. The revision has an impact on the Belgian all-items inflation rate and the EU and euro area aggregates in certain months in 2012.
Sweden has revised figures for December 2012 due to a re-computation using a different rounding precision.
An impact is a measure showing the change in the inflation due to the inclusion of a sub-index. The impact takes account of both the weight and whether the inflation for that sub-index is higher or lower than the all-items inflation rate.
More information can be found in the HICP dedicated section on Eurostat’s website and in the Statistics Explained article on inflation in the euro area.
Issued by: Eurostat Press Office Tim ALLEN Tel: +352-4301-33 444 | For further information on methodology: Svetoslava PAVLOVA Tel: +352-4301-34 406 |
Eurostat News Releases on the internet: http://ec.europa.eu/eurostat
Selected Principal European Economic Indicators: http://ec.europa.eu/eurostat/euroindicators
Annex - HICP country weights for 2013
HICP country weights are derived from national accounts data for household final monetary consumption expenditure. For the euro area, country weights reflect the amount of household final monetary consumption expenditure expressed in euro, while for the other EU countries the amounts are expressed in PPS.
MUICP | EICP | |
Belgium | 35.09 | |
Germany | 268.53 | |
Estonia | 1.57 | |
Ireland | 12.98 | |
Greece | 28.96 | |
Spain | 124.03 | |
France | 204.59 | |
Italy | 182.38 | |
Cyprus | 2.46 | |
Luxembourg | 2.90 | |
Malta | 0.88 | |
Netherlands | 49.46 | |
Austria | 33.74 | |
Portugal | 22.61 | |
Slovenia | 4.03 | |
Slovakia | 7.30 | |
Finland | 18.49 | |
Euro area (MUICP) | 1000.00 | 710.56 |
Bulgaria | 7.10 | |
Czech Republic | 14.22 | |
Denmark | 10.32 | |
Latvia | 2.24 | |
Lithuania | 4.45 | |
Hungary | 11.41 | |
Poland | 56.36 | |
Romania | 17.20 | |
Sweden | 19.11 | |
United Kingdom | 147.02 | |
EU (EICP) | 1000.00 |
