Eurozone CPI slowed sharply from 9.2% yoy to 8.5% yoy in January, well below expectation of 9.0% yoy. CPI core (all items less energy, food, alcohol & tobacco) was unchanged at 5.2% yoy, above expectations of 5.1% yoy.
Looking at the main components, energy is expected to have the highest annual rate in January (17.2%, compared with 25.5% in December), followed by food, alcohol & tobacco (14.1%, compared with 13.8% in December), non-energy industrial goods (6.9%, compared with 6.4% in December) and services (4.2%, compared with 4.4% in December).
