The indicator’s behavior was in line with both the initial data and the forecast expected by analysts, as reported by Trading Economics.
Inflation decreased to 2% from the prior month and reached its lowest level since September 2024.
In January, the increase in food prices within the eurozone slowed down to 2%, down from 2.1% in December. The growth in services also eased slightly to 3.2%, compared to 3.4% the previous month. Meanwhile, the drop in energy prices became more significant, rising to 4% from 1.9% in December. At the same time, the rate at which industrial prices are rising increased to 0.4% from 0.3%.
The growth rate of consumer prices, excluding food and energy (known as the Core CPI), decreased to 2.2% compared to the same month last year, which is the lowest level since October 2021. This is a small drop from the previous month’s rate of 2.3%, and it matches what economists had predicted.
Compared to the previous month, prices in the eurozone dropped by 0.6%, which is the smallest decrease since November 2023.
In the European Union, the rate at which prices for goods and services increased for consumers dropped to 2% compared to the same month last year, which is lower than the 2.3% recorded in December.
source: tradingeconomics.com
