Annual inflation in the euro area was 1.4 percent in December last year, down from 1.5 percent in November, according to a report released by Eurostat, the Statistical Office of the European Communities. In December 2016, the annual inflation rate was 1.1 percent.
Meanwhile, in the European Union (EU-28) annual inflation was 1.7 percent in December, down from 1.8 percent in November. In December 2016, the annual inflation rate in the EU-28 was 1.2 percent.
The lowest inflation rates in December last year were observed in Cyprus (0.4%), Ireland and Finland (both 0.5%), and Denmark (0.8%) whereas the highest annual rates were recorded in Estonia and Lithuania (both 3.8%) and the United Kingdom (3%). Compared with November, annual inflation fell in 23 member states, remained stable in four and rose in one.