According to the report from Eurostat, the euro area annual inflation rate was 1.4% in January 2019, down from 1.5% in December. A year earlier, the rate was 1.3%.

European Union annual inflation was 1.5% in January 2019, down from 1.6% in December. A year earlier, the rate was 1.6%.

The lowest annual rates were registered in Greece (0.5%), Croatia and Portugal (both 0.6%). The highest annual rates were recorded in Romania (3.2%), Latvia (2.9%), Estonia and Hungary (both 2.8%). Compared with December 2018, annual inflation fell in sixteen Member States, remained stable in five and rose in seven.

In January 2019, the highest contribution to the annual euro area inflation rate came from services (+0.70 percentage points, pp), followed by food, alcohol & tobacco (+0.36 pp), energy (+0.26 pp) and non-energy industrial goods (+0.06 pp).