Eurozone Inflation January 2017


Eurozone: Inflation jumps in January

January 31, 2017

Inflation rose to the highest level since February 2013 in January, according to a flash estimate released by Eurostat on 31 January. Harmonized inflation was 1.8% in January, above December’s 1.1%. The result slightly overshot market expectations and brought inflation close to the ECB’s 2.0% target.

According to Eurostat, the main contributor to January’s rise was higher prices for energy. Core inflation remained stable at 0.9%. Month-on-month price variations and a more detailed set of data will be provided on 22 February.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.4% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists expect inflation to average 1.5%.

Author: Angela Bouzanis, Lead Economist

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