Annual inflation in Lithuania at 1.6% in December 2023

The euro area annual inflation rate was 2.9% in December 2023, up from 2.4% in November. A year earlier, the rate was 9.2%. European Union annual inflation was 3.4% in December 2023, up from 3.1% in November. A year earlier, the rate was 10.4%. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in Denmark (0.4%), Italy and Belgium (both 0.5%). The highest annual rates were recorded in Czechia (7.6%), Romania (7.0%) and Slovakia (6.6%). Compared with November, annual inflation fell in fifteen Member States, remained stable in one and rose in eleven.

In December 2023, the annual inflation rate in Lithuania was 1.6%, in Latvia it was 0.9% and in Estonia 4.3%.

In December, the highest contribution to the annual euro area inflation rate came from services (+1.74 percentage points, pp), followed by food, alcohol & tobacco (+1.21 pp), non-energy industrial goods (+0.66 pp) and energy (-0.68 pp).