The year-on-year inflation rate in the European Union (EU) was 5.3% on the second of December and 5% in the euro area, both with new highs, with Portugal recording the lowest (2.2%).

In the euro area, the year-on-year inflation rate reached a barrier of 5%, a new maximum since the beginning of the series, in 1997, above 4.9% in November and -0.3% in December 2020, confirming the estimate from the Eurostat statistical office.

In the EU, the upward trend in prices also continued, comparing the 5.3% in December 2021 with the 5.2% of the previous month and the 0.3% of the same period last year.

The lowest inflation rates were observed in Malta (2.6%), Portugal (2.8%) and Finland (3.2%) and the highest in Finland in Estonia (12%), Lithuania (10, 7%) %) and Poland (8.0%).

Compared to 2021, a homologous of seven Member States of inflation, remained stable in two and increased in the other 18, including Portugal.

It should also be noted that all member states presented annual inflation rates above 2% for the second consecutive month.

In July, the Central Bank (ECB) informed that its new strategy includes a 2% symmetrical deviation objective, a more moderate target, admitting provisional proposals and es.

The inflation target set by the ECB now was even a rate close, but minimized below 2%.