Brussels: Europe and Arabs

The annual inflation rate in the eurozone rose for the third consecutive month to reach 2.4% in December, according to data from the European Statistical Office (Eurostat), recording its highest level since last July.
The data showed a slight increase in energy prices by 0.1% in December, compared to a decline of 2% in November, recording the first positive reading since July. The service sector inflation rate also rose to 4% in December, compared to 3.9% in the previous month.
In contrast, food, alcohol and tobacco prices witnessed a slight decline, as the rise in prices of processed food, tobacco and alcohol was offset by a decrease in prices of unprocessed food.
At the level of the region's largest economies, the inflation rate in Germany rose to 2.8% in December, up from 2.4% in November, while France recorded a slight increase to 1.8% from 1.7%. Italy saw its inflation rate fall to 1.4% in December, down from 1.5% the previous month. Core inflation in the eurozone, which excludes volatile food, alcohol and energy prices, stood at 2.7% in December, the same level as in the previous three months and in line with analysts’ expectations, according to the Euronews news website in Brussels. The rise in inflation in Germany was mainly due to higher food and services prices, as well as a slowdown in energy prices. In France, similar economic factors were affecting it, with higher electricity tariffs contributing to the problem. In Italy, the fall in inflation was mainly due to lower prices for industrial goods and services.