Brussels, 06/01/2009 (Agence Europe) - According to a flash estimate published by Eurostat, the Statistical office of the European Communities, on Tuesday 6 January, euro area annual inflation is expected to be 1.6% in December 2008. This is the first time since August 2007 that inflation has been below 2%. In November 2008, the inflation rate was 2.1%.
The main reason for this drop in the inflation rate between November and December 2008 is the fall in energy prices.
Eurostat notes that the member states participating in the euro area on 31 December 2008 were Belgium, Germany, Ireland, Greece, Spain, France, Italy, Cyprus, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia and Finland. Slovakia became a member of the euro area on 1 January 2009, and will be included in the calculation of the flash estimate for January 2009. (L.C./transl.rt)