Eurozone inflation rises to record high in January
The eurozone's annual rate of inflation rose further in January, beating forecasts for a deceleration and marking the highest print in history.
Consumer prices rose 5.1% on year in January after a 5.0% rise in December, according to a first estimate released Wednesday by Eurostat, the European Union's statistics agency. Economists polled by The Wall Street Journal forecast eurozone inflation at 4.3% on year in January. The main driver of the on-year increase was energy prices, which rose 28.6% on year and compared with 25.9% in December.The core consumer price index--which excludes the more volatile categories of food and energy--rose 2.3% on year in January after rising 2.6% the previous month.
The acceleration in the eurozone's annual rate of inflation adds further evidence to a buildup in price pressures globally that is lasting longer than initially expected, amid strong consumer demand, high energy prices, and global supply-chain disruptions. Economists expect inflation to remain above the European Central Bank's target of below, but close to, 2% at least until the end of the year, but they expect some easing in energy and goods price pressures due to supply constraints fading.
France Dernières Nouvelles, France Actualités
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