Second-round effects will drive inflation over the next few months.
(Photo: dpa)
Dusseldorf, Frankfurt Inflation in the euro area eased further in January. Consumer prices rose 8.5% percent compared to the same month last year. This was announced by the European statistical office Eurostat on Wednesday based on an initial estimate. In December, the inflation rate was still 9.2 percent. Analysts had forecast a value of 9.0 percent for January.
For Germany, the European statisticians had to fall back on an estimate for the calculation because the Federal Statistical Office had postponed the publication of the German inflation rate, which was originally planned for Tuesday, at short notice. The reason is a software problem that means that the statisticians cannot process the data from the federal states.
The European Central Bank (ECB) is aiming for an inflation rate of two percent for the euro area. Inflation has continued to move away from this mark since mid-2021. The ECB has therefore already raised interest rates in the euro area significantly. Experts expect another strong interest rate hike on Thursday.