- Inflation in the Eurozone reaches 5.1% year-on-year in January.
- The IPC in January rises 0.3% in the bloc.
- Data without impact on the market, or on the euro.
Inflation in the Eurozone in January stood at 5.1% compared to twelve months ago, according to Eurostat’s final reading of the Consumer Price Index report. The reading was in line with estimates and similar to the preliminary 5.1% reading. Core inflation figures rose 2.3%, matching consensus forecasts of 2.3%.
Compared to December, the bloc’s CPI rose 0.3%, the same as expected and below the previous month’s 0.4%, while core fell 0.9%, more than the 0.8% expected.
The numbers were not surprising. The euro was not affected. EUR/USD rises on Wednesday and trades above 1.1350, while EUR/GBP around 0.8340.
Key details (via Eurostat):
“The lowest annual rates were recorded in France (3.3%), Portugal (3.4%) and Sweden (3.9%). The highest annual rates were recorded in Lithuania (12.3%), Estonia (11.0%) and the Czech Republic (8.8 %). Compared to December, annual inflation decreased in eight member states and increased in nineteen.”
“In January, the largest contribution to the annual rate of inflation in the Eurozone came from energy (+2.80 percentage points, pp), followed by services (+0.98 pp), food, alcohol and tobacco (+0.77 pp) and non-energy industrial goods (+0.56 pp).”
Source: Fx Street
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