Eurozone inflation slowed as expected in January, flash data from Eurostat revealed Wednesday.
Inflation came in at 1.3 percent, in line with expectations, but weaker than December’s 1.4 percent.
Inflation continues to stay below the European Central Bank’s target of ‘below, but close to 2 percent’.
Excluding energy, food, alcohol and tobacco, core inflation rose marginally to 1 percent from 0.9 percent in December. The rate came in line with expectations.
Among components, food, alcohol and tobacco climbed at a slower pace of 1.9 percent after gaining 2.1 percent in December. Likewise, energy price inflation eased to 2.1 percent from 2.9 percent.
The annual growth in services cost again held steady at 1.2 percent. Meanwhile, non-energy industrial goods prices rose 0.6 percent, slightly faster than the 0.5 percent increase in December.
Source: RTT News