However, inflation in the euro area is still incomparable with the Czech one, which is currently the highest in eight years. Last year, prices in our country rose by 3.2 percent.
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The euro area currently consists of 19 European countries in which the common currency is the common European currency, the euro.
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Inflation was dampened by energy prices
Inflation in the euro area would be even more pronounced in the absence of falling energy prices. They fell by 4.1 percent year on year.
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By contrast, food, alcohol and tobacco prices rose by 1.5 percent. Services are 1.4 percent more expensive year on year, as are industrial products.
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Four eurozone countries are in deflation. In Greece, consumer prices fell by 2.3 percent year on year. In Cyprus, prices are 0.6 percent lower than a year ago, in Latvia by 0.5 percent and in Ireland by 0.1 percent.
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The strongest inflation is in the Netherlands, where consumer prices rose by 1.6 percent for the year. It is followed by Germany with 1.5% inflation.
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