Eurozone annual inflation eases to 8.5% in January

ISTANBUL

The annual inflation rate in the euro area was at 8.5% in January, down from 9.2% in December, official preliminary figures showed on Wednesday.

Energy is expected to have the highest annual price increase in the month with 17.2%, down from 25.5% in December, Eurostat forecasted.

The rates are expected to come in at 14.1% for food, alcohol and tobacco, 6.9% for non-energy industrial goods, and 4.2% for services in January, the bloc's statistical office added.

Among eurozone countries, the highest inflation rate is expected be posted by Latvia with 21.6%, followed by Estonia with 18.8% and Lithuania with 18.4%, Eurostat estimated.