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Eurozone Final CPI rises by 0.3% MoM in Dec, meets estimates

  • Eurozone Annual inflation up to 1.3% in December.
  • Eurozone Monthly inflation up to 0.3% in December.
  • EUR/USD flirts with daily lows at 1.1125 on the data release.

According to Eurostat’s final reading of the Eurozone CPI report for December, the consumer prices came in at +1.3% on a yearly basis, matching the flash estimate of +1.3%. While the core figures rose 1.3% versus +1.3% previous.       

On a monthly basis, the bloc’s CPI figure for Dec rose by 0.3% versus +0.3% expectations and -0.3% previous while the core CPI numbers arrived at +0.4% versus +0.4% expected and +0.4% last.

Key Details (via Eurostat):

“The lowest annual rates were registered in Portugal (0.4%), Italy (0.5%) and Cyprus (0.7%). The highest annual rates were recorded in Hungary (4.1%), Romania (4.0%), Czechia and Slovakia (both 3.2%). Compared with November, annual inflation fell in two Member States, remained stable in three and rose in twenty-three.

In December, the highest contribution to the annual euro area inflation rate came from services (+0.80 percentage points, pp), followed by food, alcohol & tobacco (+0.38 pp), non-energy industrial goods (+0.12 pp) and energy (+0.02 pp).”

FX Implications:

The in-line with estimates Eurozone inflation data failed to rescue the EUR bulls, as the shared currency meanders near daily lows of 1.1125 vs. the greenback.


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