Earlier today Spanish CPI figures were released. Rising energy costs sent Spanish inflation to its highest level in four years in January, well above the European Central Bank's price stability target, adding to a debate over how long the bank's monetary stimulus will last. Consumer prices, harmonised for comparison with the European Union, rose 3 percent year-on-year this month, the fastest rate since December 2012, preliminary data from the National Statistics Institute (INE) showed on Tuesday.
Eurozone CPI jumped to 1.8%
Euro area annual inflation is expected to be 1.8% in January 2017, up from 1.1% in December 2016, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in January (8.1%, compared with 2.6% in December), followed by food, alcohol & tobacco (1.7%, compared with 1.2% in December), services (1.2%, compared with 1.3% in December) and non-energy industrial goods (0.5%, compared with 0.3% in December).
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