Financial News: Eurozone Inflation At 8-Month Low

Eurozone Inflation At 8-Month Low

02/01/2023 - 05:32:00 (RTTNews)

(RTTNews) - Eurozone consumer prices rose at the slowest pace in eight months in January, flash data from Eurostat showed on Wednesday.

Inflation slowed more-than-expected to 8.5 percent in January from 9.2 percent in December. Prices were expected to climb 9.0 percent. This was the lowest rate since May 2022.

Core inflation that excludes prices of energy, food, alcohol and tobacco, held steady at 5.2 percent in January, slightly above economists' forecast of 5.1 percent. Month-on-month, the harmonized index of consumer prices was down 0.4 percent.

Within the HICP, energy prices posted the biggest annual increase of 17.2 percent, followed by a 14.1 percent gain in food, alcohol and tobacco prices. Non-energy industrial goods prices moved up 6.9 percent and services cost rose 4.2 percent.

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