Eurozone CPI rises to 2.4% yoy, core unchanged at 2.7% yoy again

Eurozone inflation accelerated again in December, with headline CPI rising to 2.4% yoy, up from November’s 2.2% yoy, as per the flash estimate. That’s also the third month rise in inflation since hitting 1.8% yoy back in September.

Meanwhile, core CPI, which excludes volatile components such as energy, food, alcohol, and tobacco, remained steady at 2.7% yoy for the fourth straight months. Both readings , aligned with forecasts.

Breaking down the components of inflation, services led the way with an annual rate of 4.0%, up slightly from November’s 3.9%. This was followed by food, alcohol, and tobacco, which held steady at 2.7%. Non-energy industrial goods inflation softened marginally to 0.5% from 0.6%, while energy prices rebounded modestly to 0.1% from a sharp -2.0% contraction in the prior month.

Full Eurozone CPI flash release here.