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In January, euro zone inflation headed south, although core rate managed to grow.
Inflation stepped down in the euro zone in January, which is in line with market hopes, as follows from a first forecast from the EU's statistics agency. Nevertheless, core inflation demonstrated a jump.
Inflation in the European Union went down to 1.3% versus December’s outcome of 1.4%, which is in line with experts’ hopes. By the way, Eurostat's flash estimate for January doesn’t come with a month-on-month calculation.
The sag took place simply due to a slower soar of unprocessed energy and food prices.
The former rallied 1%in January versus a 1.9% leap in December. As for the latter, it gained 2.1% from December’s reading of 2.9%.
Calculated excluding these two most fluctuating components, or what the European Central Bank labels as core inflation it edged up to 1.2% from 1.1% in December versus hopes for a moderate dive to 1%.
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