2/1, 11:00 AM (Source: TeleTrader)
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Inflation in euro area down to 8.5% in January

Annual Harmonized Index of Consumer Prices (HICP) in the Eurozone is expected to come in at 8.5% in January, lower than the 8.9% expected and the 9.2% from the previous month, the European Commission's statistical office Eurostat said in its preliminary report published on Wednesday. On a monthly basis, it is expected to fall by 0.4%, slightly more than the projections, which foresaw a 0.3% descent.

In terms of components, energy is expected to come in at 17.2%, much lower than December's 25.5%. Further back, food, alcohol, and tobacco will come in at 14.1%. Non-energy industrial goods and services are expected to stand at 6.9% and 4.2%, respectively.

By country, Belgium, Cyprus, and the Netherlands stood out with declines of 1.6%, 1.4%, and 1.9%, respectively. While on the other hand, Slovakia will likely record an increase of 2.7%.

Baha Breaking News (BBN) / JG