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The eurozone year-on-year inflation it fell seven tenths in January, to 8.5%, and has chained three consecutive months of decline, which fuels the hope that the rise in prices in the euro area has peaked, according to preliminary data published this Wednesday by Eurostat and collected by EFE. In Spain, inflation rose three tenths, up to 5.8%after the withdrawal of the Government from the general rebate on the price of fuels and despite the drop in VAT on some foods, but it continues to be the eurozone country with the lowest rate. Germany, one of the large economies of the countries that share the euro, has not provided Eurostat with its inflation data, which reached 9.6% in December. The Underlying inflationwhich excludes energy products, food, tobacco and beverages as they behave more volatilely, remained stable at 5.2%.
The energyDespite remaining the product category with the highest price increase compared to the same month in 2022, it was the sector that fell the lowest in January, up to 17.2%, from the 25.5% it registered in December. With this decline, it chains three consecutive months of declines. After energy, inflation continued to increase processed foods, alcohol and tobacco, with an increase of 14.1% compared to 13.8% recorded a month earlier. On the other hand, the prices of non-energy industrial goods advanced 6.9% in January, compared to 6.4% in December, while those of the services they fell to 4.2% in the first month of the year, compared to 4.4% in the previous month.
Between the nineteen countries that share the euro, Spain registered, together with Luxembourg, the lowest inflation in the harmonized rate (comparable with the rest of the partners of the common currency), 5.8%, followed by Malta (6.7%) and Cyprus (6.8% ). Inflation in France, which registered the second lowest rate in the euro area in December, picked up to 7% in January. Above double digits remain Italy (10.9%), Austria (11.5%), Croatia (12.5%) and Slovakia (14.9%). Finally, the Baltic countries continue to be the euro partners most affected by price growth, with year-on-year inflation reaching 21.6% in Latvia, 18.8% in Estonia and 18.4% % in Lithuania.
