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Euro-Zone Inflation Unexpectedly Hits Record, Boosting Rate Bets

  • Consumer prices jumped 5.1% in January; analysts saw 4.4%
  • Energy remains the main driver as ECB officials discuss policy
Euro-area consumer prices jumped 5.1% from a year ago in January.

Euro-area consumer prices jumped 5.1% from a year ago in January.

Photographer: Angel Garcia/Bloomberg
Updated on

Euro-area inflation unexpectedly accelerated to a record, overshooting expectations by the most in at least two decades and fueling bets the European Central Bank could raise interest rates earlier than expected.

Consumer prices jumped 5.1% from a year ago in January, up from 5% in December. The median estimate in a Bloomberg poll of 44 economists saw a reading of only 4.4% and none predicted inflation gaining pace.