Inflation in the euro area in December last year reached a record high as growth accelerated unexpectedly. For the European Central Bank (ECB), which does not distort the view that the current price increase is transient, it will be difficult to respond in the future.
The European Union (EU) Bureau of Statistics (Eurostat) released a preliminary consumer price index (CPI) in December, up 5% year-on-year, accelerating from the previous high of 4.9% in the previous month. .. The median economist forecast compiled by Bloomberg was up 4.8%.
Core CPI, excluding volatile items such as food and energy, rose 2.6%, the same growth as the previous month.
Eurozone Consumer Price Index for December: Preliminary figures (table)
On the other hand, business sentiment in the euro area in December last year was lower than analysts expected due to the emergence of the Omicron variant of the new coronavirus.
Inflation trends in the euro area
Source: Eurostat
Original title:Euro-Area Inflation Unexpectedly Hits Record in Test for ECB (1)
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