CdM | Eurozone inflation rose by a tenth of a percent in January, bringing the year-on-year rate of the Consumer Price Index (CPI) to 2.5%, in line with estimates and the highest increase since July last year, according to the second reading published by Eurostat, the statistical office of the European Union (EU).
The rise in inflation was mainly due to the increase in the cost of energy, which rose by 1.9%, compared to 0.1% the previous month. This represents the biggest rise in energy prices since April 2023.
Meanwhile, inflation in services slowed to 3.9%, from 4% in December, and the price of fresh food slowed to 1.4% annually, from 1.6% the previous month. For its part, the cost of non-energy industrial goods rose 0.5%, in line with the December figure.
Excluding energy prices, fresh food, alcohol and tobacco, the underlying inflation rate remained at 2.7% in January.
Across the EU, the CPI rose by one tenth of a percent in January, to 2.8%, also registering the highest increase since June 2024.
By country, the lowest annual rates were recorded in Denmark (1.4%) and Ireland, Italy and Finland (1.7% in all of them). On the contrary, the highest annual rates were in Hungary (5.7%), Romania (5.3%) and Croatia (5%).
