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    Home » Eurozone Inflation Unexpectedly Surges to Fresh Record, 5.1%
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    Eurozone Inflation Unexpectedly Surges to Fresh Record, 5.1%

    February 2, 20221 Min Read
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    The eurozone’s inflation rate jumped to a fresh record high in January, an unexpected rise for policymakers at the ECB who do expect to raise their key interest rate this year.

    • The eurozone’s annual rate of consumer-price inflation closed 2021 at 5%, then the highest on record and more than twice the ECB’s target.
    • Data released by the European Union’s statistics agency stated that the annual rate of inflation rose to 5.1% on a fresh increase in energy prices.
    • Energy is anticipated to have the highest annual rate last with 28.6%, increasing from 25.9% a month ago.
    • Food, alcohol, and tobacco with 3.6% inflation in January, services with 2.4%, and non-energy industrial goods with 2.3%.

    As prices surge, Eurozone workers are facing a sharp decrease in their real spending power, as their bargaining power appears to be expanding.

    Euro Stoxx 50 up +0.56%, EUR USD up 0.44%

    Source: Eurostat

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