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Euro area inflation fell by 0.6% in January

Tuesday, Feb 24 2015

Euro area annual inflation was -0.6% in January 2015, down from -0.2% in December, in line with prelim reading. This was the lowest rate recorded since July 2009. In January 2014 the rate was 0.8%. European Union annual inflation was -0.5% in January 2015, down from -0.1% in December. A year earlier the rate was 0.9%.

The largest upward impacts to euro area annual inflation came from restaurants & cafés and rents (+0.14 percentage points each) and tobacco (+0.07 pp), while fuels for transport (-0.77 pp), heating oil (-0.24 pp) and telecommunications (-0.05 pp) had the biggest downward impacts.

 

Data did not have any major impact on the markets with euro currently being traded around 1.13 handle. Pair is likely to find support around 1.1270 and resistance above 1.1360 level during today's session. Later today, markets will be focused on Janet Yellen's testimony and CB Consumer Confidence figures.

More in this category: « Forbes said that next likely move will be an increase in interest rates Markets waiting for Janet Yellens testimony »

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