Inflation in the Eurozone shot up to 2.4% in December, the third consecutive monthly rise, according to data from Eurostat. This is a steady climb from November’s revised 2.2% and September’s low of 1.

As inflation brings Europeans along for a bumpy ride, unemployment has remained stable. Throughout the euro area, unemployment remained 6.3%, unchanged between October and November 2024. Unemployment also remained a consistent 5.9% across the EU, according to data published Tuesday.

The euro area annual consumer inflation rate for December was confirmed at 2.4%, its highest level since July, according to a second reading released Friday. Headline inflation accelerated from 2.2% in November, Eurostat data showed.

Eurozone inflation fell to 2.4% in December 2024, but ECB chief economist Philip Lane cautions that services inflation and uneven growth persist. A "middle path" on interest rates and structural reforms is crucial for stability.

Inflation in the eurozone quickened in December for the second month in a row, as rising prices for energy and services kept it uncomfortably above the European Central Bank’s target.

Euro-area inflation accelerated last month, supporting the European Central Bank’s gradual approach to reducing interest rates, without derailing them altogether.

December flash estimate shows inflation is rising in most of the eurozone’s major economies, including Germany

The European Commission greenlighted Hungary’s medium-term fiscal-structural plan on Thursday after Budapest provided the bloc’s executive with updated and previously missing data.

Increasing transport prices boosted Spain’s December inflation number, with rising culture and recreation prices also contributing to the figure. View on euronews

Official statistics agency ISTAT also reported that Italy's annual HICP average rate for 2024 came in at 1.1%, down from 5.9% in 2023, mainly due to a sharp decrease in energy prices. In December the main domestic price index (NIC) was up 0.1% on the month and up 1.3% annually, following a 1.3% annual rate the previous month.

Inflation in Luxembourg in December stood at 1.6%, according to Eurostat, an increase of half a percentage point from the previous month

The annual inflation rate for housing and household services was 6.0% in December 2024, up from 5.8% in November. This compares with a recent peak of 11.8% observed in January and February 2023. On a monthly basis, prices rose by 0.4% in December 2024, compared with a rise of 0.3% a year ago.