Eurozone headline inflation was finalized at 2.5% yoy in January, ticking up from 2.4% yoy in December. Core CPI, which excludes energy, food, alcohol, and tobacco, remained unchanged at 2.7% yoy.
The largest contributor to Eurozone inflation was the services sector, which added 1.77 percentage points (pp) to the overall rate. Food, alcohol, and tobacco contributed 0.45 pp, while energy added 0.18 pp, and non-energy industrial goods accounted for 0.12 pp.
At the EU level, CPI was finalized at 2.8% yoy. The lowest inflation rates were seen in Denmark (1.4%), Ireland, Italy, and Finland (all 1.7%), indicating softer price pressures in some core economies. On the other hand, Hungary (5.7%), Romania (5.3%), and Croatia (5.0%) recorded the highest inflation levels, underlining regional imbalances in price stability.
Compared to December, inflation fell in eight EU member states, remained unchanged in four, and rose in fifteen.
