Euro Area Inflation Rate Rises To 2.4% - Eurostat

1/7/2025 10:05:23 AM

(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, Jan 7 (KUNA) -- The European Statistics Office (Eurostat) said Tuesday that the annual inflation rate in the euro area rose to 2.4% in December 2024, up from 2.2% in November 2024.
A Eurostat report said that the services sector was the largest contributor to the increase in the annual inflation rate in the euro area, recording 4.0% in December, compared to 3.9% in November, followed by food, alcohol, and tobacco (2.7%, stable compared to November), non-energy industrial goods (0.5%, compared to 0.6% in November), and finally energy (0.1%, compared to -2.0% in November).
On another note, Eurostat, in a separate statement, said that the seasonally adjusted unemployment rate in the euro area remained stable at 6.3% in November, unchanged from October 2024 and down from 6.5% in November 2023. The unemployment rate in the European Union was 5.9% in November 2024, also stable compared to October 2024, and down from 6.1% in November 2023.
The Office estimated that there were 12.968 million unemployed persons in the European Union, of whom 10.819 million were in the euro area in November 2024. It also recorded an increase in the unemployment rate among young people, reaching 15.3% in the European Union, up from 15.2% in October 2024. (end)
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