Europe began year 2018 with declining inflation

In January, inflation declined on a monthly basis in the euro area and in the European Union.

Eurostat announced on Friday that the annual inflation in January fell to 1.3 percent in the 19 member states of the eurozone from the 1.4 percent of December, while in the 28 member states of the European
Union decreased to 1.6 percent from the 1.7 percent of December.

The lowest inflation was registered in Cyprus in January, minus 1.5 percent. In Greece and Ireland, consumer prices increased by 0.3 percent.

The biggest annual increase in prices occured in Lithuania and Estonia in January both 3.6 percent. ,
Inflation in January was 2.1 percent in Hungary. (MTI)