Euro-Zone Core Inflation at Record Set to Embolden ECB Hawks
- January underlying price gauge revised up to 5.3% from 5.2%
- ECB very likely to lift deposit rate to 3% in March as planned
Core price gains reached 5.3% — more than an initial reading of 5.2%.
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Underlying inflation in the euro area hit a record in January, revised data showed, likely cementing the European Central Bank’s plan to raise interest rates by another half-point next month.
Core price gains reached 5.3% — more than an initial reading of 5.2% — Eurostat said Thursday. Headline inflation, which includes food and power, also ticked up by 0.1 percentage point to 8.6% after Germany’s figure turned out to be higher than the agency’s preliminary estimate.