Eurozone January preliminary CPI +0.9% vs +0.6% y/y expected
Latest data released by Eurostat - 3 February 2021
The core reading jumps to its highest level in five years as the figures here beat estimates quite handily, surprising to the upside. That said, things must be put into context.
- Prior -0.3%
- Core CPI +1.4% vs +0.9% y/y expected
- Prior +0.2%
As mentioned here, this shouldn't change a thing in terms of the ECB outlook as the jump in inflation owes to a host of special circumstances to start the year. In any case, expect more volatility in the numbers to follow in the coming months as well.