- Inflation in the euro area stood at -0.3% year-on-year in December.
- The monthly CPI rises 0.3% in December.
- EUR / USD falls to daily lows near 1.2110 following the data release.
According to Eurostat’s final reading of the December Eurozone CPI report, consumer prices stood at a -0.3% annually for the fourth consecutive month, meeting the preliminary estimate. While the underlying figures increased by 0.2%, matching the previous and expected results.
Over a base monthly, the bloc inflation for December accelerated by 0.3% versus -0.3% previously, meeting forecasts, while the underlying CPI figures reached 0.4%, coinciding with the previous and expected results.
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“The lowest annual rates were recorded in Greece (-2.4%), Slovenia (-1.2%) and Ireland (-1.0%). The highest annual rates were recorded in Poland (3.4%), Hungary (2.8%) and the Czech Republic (2.4%). Compared to November, annual inflation fell in nine Member States, remained stable in eight and increased in ten ”.
“In December, the largest contribution to the annual inflation rate in the euro area came from the services (+0.30 percentage points), followed by food, alcohol and tobacco (+0.25 pp) “.
EUR / USD reaction
He EUR/USD It has extended its retracement to the lows of the day after the publication of the data, making a bottom at 1.2113. The pair has lost about 45 pips from the three-day highs reached at the European open at 1.2158. At time of writing, the euro is trading against the dollar over 1.2121, losing 0.04% daily.
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