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Price inflation in the EU diminished at an even pace in 1996. Greece reported the highest price increases, while Finland, Sweden and Luxembourg had the lowest rates. As of January 1997 three countries did not comply with the inflation rate convergence criteria stipulated in the Maastricht Treaty. Of the three, Spain and Portugal are just above the requirement, while Greece has a long way to go.
The harmonized consumer price index for the EEA area rose an average of 2.2 per cent from January 1996 to January 1997.
Weekly Bulletin issue no. 11, 1997