Record-high eurozone inflation raises pressure on ECB
HICP increased by 5.1%, well above consensus expectation of 4.4%, as energy prices drive up reading
Inflation in the eurozone reached a new record high in January, rising well above expectations and piling pressure on European Central Bank (ECB) policy-makers.
The harmonised price index of consumer prices (HICP) rose year on year by 5.1% last month, official early estimates showed today (February 2). It had increased by 5% in December, but consensus expectations suggested it would fall to 4.4%. The ECB’s target is 2%.
Ahead of the ECB policy meeting on February 3, the inflation reading is
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