Economy
Eurozone inflation rises to record 5 percent
The energy prices have risen by almost 26 percent compared to the same month last year. Photo: Federico Gambarini/dpa
© dpa-infocom GmbH
The inflation rate is higher than it has ever been since the introduction of the euro. The rise in energy prices is a big part of this.
Inflation in the euro area hit a record high at the end of 2021. Consumer prices rose by 5 percent in December compared to the same month last year, according to a second estimate from the statistics office Eurostat.
A first survey was confirmed. This puts the inflation rate at its highest level since the introduction of the euro. In the previous month, the inflation rate was 4.9 percent. This was also a record.
Inflation was driven by the increase in energy prices, which rose by almost 26 percent compared to the same month last year. Food and beverages were 3.2 percent more expensive. Excluding energy, food and luxury goods, the price level rose by 2.6 percent. This so-called core rate is regarded by many experts as a reliable measure of the inflation trend.