Euro area1 annual inflation2 is expected to be 0.8% in December 2013, down from 0.9% in November3, according to a flash estimate4 from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in December (1.8%, compared with 1.6% in November), followed by services (1.0%, compared with 1.4% in November), non-energy industrial goods (0.2%, stable compared with November) and energy (0.0%, compared with -1.1% in November). (full story)