Eurozone December preliminary CPI +5.0% vs +4.7% y/y expected

  • Prior +4.9%
  • Core CPI +2.6% vs +2.5% y/y expected
  • Prior +2.6%

Euro area annual inflation hits 5% in December, marking yet another record high. This just reaffirms that price pressures are not quite abating just yet and that ECB policymakers are still underestimating the situation. With core inflation also keeping above the 2% level, it will continue to heap more pressure on the ECB to start the new year.

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