Eurozone Verbraucherpreise

The annual inflation rate in the Euro Area edged up to 2.5% in January 2025 from 2.4% in December, slightly above market expectations of 2.4%, a preliminary estimate showed. It was the highest inflation rate since July 2024, driven primarily by a sharp acceleration in energy costs (1.8% vs 0.1% in December). Meanwhile, inflation for non-energy industrial goods remained steady at 0.5%, while price increases slowed for both services (3.9% vs 4.0%) and food, alcohol, and tobacco (2.3% vs 2.6%). The core inflation rate, which excludes volatile food and energy prices, remained unchanged at 2.7% for the fifth consecutive month, slightly above market forecasts of 2.6% but still at its lowest level since early 2022.