The euro area annual inflation rate was 1.4% in January 2020, up from 1.3% in December. European Union annual inflation was 1.7% in January 2020, up from 1.6% in December
The lowest annual rates were registered in Italy (0.4%), Cyprus (0.7%), Denmark and Portugal (both 0.8%). The highest annual rates were recorded in Hungary (4.7%), Romania (3.9%), Czechia and Poland (both 3.8%). Compared with December, annual inflation fell in five Member States, remained stable in five and rose in eighteen. In January, the highest contribution to the annual euro area inflation rate came from services (+0.68 percentage points, pp), followed by food, alcohol & tobacco (+0.40 pp), energy (+0.19 pp) and non-energy industrial goods (+0.08 pp).
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