EU inflation falls in January

Inflation in the both the European Union (EU) and wider eurozone fell again in January, according to the EU’s statistical office.

Eurostat reports that annual inflation among the 17 member states fell to 2.6% in January, down from 2.7% the month before.

EU annual inflation fell from 3% in December to 2.9% last month.

The lowest annual rates were observed in Sweden, Ireland and Malta with 0.7%, 1.3% and 1.5%, respectively, while Hungary, Estonia, Poland and Slovakia all reported the highest annual rates with 5.6%, 4.7% and 4.1%, respectively. (article continues below)

Housing, transport, alcohol and tobacco were all the highest contributors to inflation during January.