According to recent data published by the EU Statistical Office, Eurostat, the rate of inflation in the eurozone fell by 1.6% in December to 1.1% in January 2009, while it decreased from 2,2% to 1.7% in the Twenti-Seven

In January 2009, the lowest annual rates were observed in Luxembourg (0%), Portugal (0.1%), and in Spain and France with 0.8% each, and the highest in Latvia (9.7%), Lithuania (9.5%) and Romania (6.8%). In relation to December 2008, inflation fell in 24 member states, increased in two and remained stable in one.

As to the average of the last 12 months, Netherlands (2.2%), Portugal (2.4%) and Germany (2.6%) were the least inflationary, while Latvia (14.7%) Bulgaria (11.4%) and Lithuania (11%) had the highest rates.

According to Eurostat, the statistical arm of the European Commission, the products of the euro zone which showed the highest annual rates in January 2009 were alcohol and snuff (3.2%), housing (3.1%) and hotels and restaurants (3 %). By contrast, transport (-3.2%), communication (-1.9%) and clothing (-0.6%) were products with less inflation.

In addition, gas (+0.22%), restaurants and cafés (+0.17%) and electricity (+0.12%) had the strongest upward impacts, while fuels for transport (-0.89%), liquid fuels (-0.21%) and garments (-0.11%) were the products with greater drop in their prices.

The highest monthly rates were recorded in alcohol and snuff (0.6%) and housing and food by 0.5%. On the opposite side are garments (-10.6%), leisure and culture (-0.2%) and hotels and restaurants (-0.6%). In particular, restaurants and cafés (+0.08%) were the most expensive components, while garments (-0.57%), package holiday (-0.20%) and footwear (- 0.10%) were the products in the most reduced prices.