The Year-on-year Consumer Price Index for the Eurozone expects a 5% rise in December’s preliminary reading, beating the expected 4.7% and the previous 4.9%. The indicator has reached its highest value in the historical series.
Regarding the main components of inflation in the euro area, energy is expected to have the highest annual rate in December (26.0%, compared to 27.5% in November), followed by food, alcohol and tobacco (3.2% , compared to 2.2% in November), non-energy industrial goods (2.9%, compared to 2.4% in November) and services (2.4%, compared to 2.7% previously).
The Annual core inflation is estimated to remain at 2.6%, one tenth above the 2.5% forecast.
EUR / USD reaction
EUR / USD is gaining ground in recent hours, having opened the day on Friday, falling to an intraday low at 1.1290. At time of writing, the pair has risen to a daily high at 1.1319.
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