Eurozone final CPI arrives at 0.4% MoM in December, matching estimates

Eurozone inflation arrives at 5.0% YoY in December.
Monthly CPI in the bloc rises to 0.4% in December.
EUR/USD remains unfazed around 1.1350 on the EZ data.

Dhwani Mehta FXStreet

Prices rose by 5.0% in the eurozone in December, on a yearly basis, according to Eurostat’s final reading of the Eurozone CPI report for the month. The reading was in line with the estimates of 5.0% and 5.0% expectations. Core figures rose by 2.6%, matching the 2.6% consensus forecasts.

When compared to November, the bloc’s CPI rose 0.4% versus 0.4% expected and 0.4% in the previous month, while the core CPI numbers also came in at 0.4% versus 0.4% expected and 0.4% last.

Key details (via Eurostat):

“The lowest annual rates were registered in Malta (2.6%), Portugal (2.8%) and Finland (3.2%). The highest annual rates were recorded in Estonia (12.0%), Lithuania (10.7%) and Poland (8.0%). Compared with November, annual inflation fell in seven Member States, remained stable in two and rose in eighteen.”

“In December, the highest contribution to the annual euro area inflation rate came from energy (+2.46 percentage points, pp), followed by services (+1.02 pp), non-energy industrial goods (+0.78 pp) and food, alcohol & tobacco (+0.71 pp).”

FX implications:

EUR/USD is little changed on the data release, currently trading at 1.1349, up 0.07% so far.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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