The pace of decline in consumer prices accelerated in the EU

The pace of decline in consumer prices accelerated in the European Union in January. The price level in an annual comparison fell by 0.5 percent after the 0.1 percent in December. Within the euro zone prices fell by 0.6 percent – the EU's statistical office, the Eurostat announced on Tuesday.

Among the 28 EU Member States, the price level declined in twenty-three in January. The biggest price drop was recorded in Greece (-2.8 percent), followed by Bulgaria (-2.3 percent). Malta announced a price increase (0.8 percent) as well as Austria and Romania (both 0.5 percent), Sweden (0.4 percent) and Great-Britain (0.3 percent).