Inflation in the eurozone in December slowed to a minimum for 4 months
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In December, the Eurozone inflation fell to 9.2% from 10.1% in November, the lowest in four months. should from a preliminary estimate by Eurostat.
The specialists calculated that the rise in energy prices slowed down in December compared to November – 25.7% against 34.9%. In turn, food, alcohol and tobacco prices rose by 13.8% compared to the previous month – 13.6%. Industrial goods rose in price by 6.4%, while a month earlier the rise was 6.1%.
The Financial Times previously wrote that the eurozone economy will shrink in 2023 due to the energy crisis. Analysts believe that high inflation and a shortage of energy resources will provoke a further reduction in production and a deterioration in the situation on the labor market. All this will lead to a contraction of the eurozone economy by 0.01%.
The energy crisis in Europe began in 2021 against the backdrop of forcing the energy transition to green energy sources, the low level of occupancy of European UGSFs and a drop in wind power generation due to calm weather.
In 2022, the situation worsened due to interruptions in energy supplies from Russia after the start of a special operation in Ukraine and the subsequent anti-Russian sanctions.
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