New drop in inflation seen for January

Greek annual inflation rate is projected to slow to 7.2% in January from 7.6% in December 2022, with the inflation rate in the eurozone projected to fall to 8.5% from 9.2% over the same months respectively, Eurostat said in its flash estimate report.

It said that energy will continue having the highest annual growth rate (17.2% in January from 25.5% in December 2022), followed by food/alcohol/tobacco (14.1% from 13.8%), non-energy industrial goods (6.9% from 6.4%) and services (4.2% from 4.4%). Latvia (21.6%), Estonia (18.8%) and Lithuania (18.4%) recorded the highest inflation rates, while Luxembourg (5.8%), Malta (6.7%) and Cyprus (6.8%) had the lowest.