- Eurozone inflation reaches 5.0% year-on-year in December.
- The IPC rises 0.4% in December, similar to the preliminary reading.
- EUR/USD remains unchanged around 1.1350.
According to Eurostat’s final reading of the report of the Consumer’s price index Eurozone CPI for December, prices rose at a 5.0% pace from 12 months ago, in line with the flash estimate and market consensus. While the core index rose 2.6%, similar to expectations.
In monthly terms in December, the bloc’s CPI advanced 0.4%, matching the consensus and the November reading, while the core CPI also rose 0.4%.
The report indicates that “the lowest annual rates were registered in Malta (2.6%), Portugal (2.8%) and Finland (3.2%). The highest annual rates corresponded to Estonia (12.0%), Lithuania (10.7%) and Poland (8.0%) Compared to November, annual inflation decreased in seven member states, remained stable in two and increased in eighteen.”
In December, the largest contribution to the annual rate of inflation in the euro area came from energy (2.46 percentage points), followed by services (1.02 pp), non-energy industrial goods (0.78 pp), and food, alcohol and tobacco (0.71 pp).
EUR/USD was unchanged after the data release, trading around 1.1350.
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