Inflation falls in January
According to a preliminary release by Eurostat on 1 February, harmonized inflation is expected be 1.4% in January, sitting below the European Central Bank’s target rate of near, but under, 2.0%. Rising prices for energy and food, alcohol and tobacco products were chiefly behind January’s inflation. Meanwhile, core inflation, which strips out volatile energy and unprocessed foods prices, came in at a softer 1.2% in January.
With January’s flash release, Eurostat changed how it calculates HICP and its aggregates. Revised historical data will be released on 22 February, along with a more comprehensive estimate of January’s inflation.