Euro area inflation reaches new high in December

ANKARA

Annual euro area inflation is expected to come in at 5% in December, the highest ever on record, according to a flash estimate of preliminary data from Eurostat on Friday.

The figure, above market forecasts of 4.7%, was up from 4.9% in November, said the estimate from the European Union's statistics agency.

Energy is projected to have the highest annual rate last month with 26.0%, down from 27.5% in November.

Next comes food, alcohol, and tobacco with 3.2% inflation last December, non-energy industrial goods with 2.9%, and services with 2.4%.