Eurozone closes 2011 with a 2.7% inflation
Best Growth Stock – The euro zone countries ended 2011 with an annual inflation rate of 2.7%, one tenth less than forecast earlier this month by the EU statistical office, Eurostat, and five more than the end of 2010.
Consumer prices evolved similarly in the twenty-seven EU countries had an annual increase of 3% in December compared to 2.7% a year earlier. In December, Eurozone annual inflation fell in November compared to three tenths (3%), while the EU set up four (3.4%).
In monthly terms, inflation stood at 0.3% in December, both in countries of the euro and in member countries.
Spain, meanwhile, ended 2011 with a harmonized inflation rate of 2.4% in December after no increase prices (0.0%), below the 2.9% rate recorded in in December 2010. “The slight decline in inflation in Europe unfortunately also reflected the slowdown in economic recovery,” he said a spokesman for Economic Affairs of the European Commission, Amadeu Altafaj. “Private consumption in particular, remains very moderate positive growth figures are largely attributable, in the case of Spain also exports rather than domestic consumption,” he said in remarks to a media group.
The spokesman stressed, moreover, that a moderate price behavior relieves the pressure and this may be reflected in the analysis of the European Central Bank (ECB) in determining its interest rate policy.
However, Altafaj would not consider whether the fall in inflation the ECB gives enough room for a further cut in interest rates (now at 1%, after two consecutive reductions since November). “The ECB is completely independent to decide based on these figures,” he said, recalling that the entity has provided the conditions to lower the money earlier, which “contributes to the revival of economic activity in a context very difficult for households and for European companies. ”
In December, the countries with most notable increases in relation to the same time last year were Slovakia (4.6%), Poland (4.5%) and Cyprus (4.2%), while more moderate increases Consumer prices were in Sweden (0.4%), Malta (1.3%) and Ireland (1.4%).
Items that showed higher increases were housing (4.9%) and transport (4.3%), as well as alcohol and snuff (3.8%), while the lowest occurred in the communications (-1.9%), leisure and culture (0.6%) and education (0.9%).
In monthly terms, highlighted increases leisure and culture (2%), hotels and restaurants (1%) and transport (0.4%) and falls in the articles of clothing (-1.3%) and communications (-0.2%).
Alcohol, snuff and health and education remained (all 0.0%).
The monthly price increases were the greatest impact of organized trips (0.18 percentage points), while the decline was more pronounced for apparel products (-0.10 percentage points). Core inflation in the euro area, excluding the energy products and fresh food, whose prices tend to vary more, is 2% on-year, nine points more than in December 2010.
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