EU annual inflation has fallen in almost all member states, aside from Malta, Cyprus and Sweden.

Euro area annual inflation has decreased to --0.5% in January 2015, down from -0.1% in December.

Malta has the highest positive annual rate, standing at 0.8% as of January, up from 0.4% in December. The lowest annual rates were registered in Greece (-2.8%) and Bulgaria (-2.3%). Positive annual rates were also recorded in Austria and Romania (both 0.5%), Sweden (0.4%) and the United Kingdom (0.3%).