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Eurozone Inflation Slows Unexpectedly; Jobless Rate Stable At 12%

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us
rttnewslogo20mar2024

Eurozone inflation slowed for the second consecutive month in January, flash estimate released by Eurostat showed Friday.

Another report showed that the jobless rate in the currency bloc remained unchanged in December.

Inflation fell unexpectedly to 0.7 percent in January from 0.8 percent in December. Economists had forecast the rate to accelerate to 0.9 percent.

Meanwhile, core inflation, which excludes energy, food, alcohol and tobacco, rose to 0.8 percent from 0.7 percent in December. The rate matched economists' expectations.

Inflation has stayed below the European Central Bank's target of 'below, but close to 2 percent' for the twelfth consecutive month.

Food, alcohol and tobacco prices rose 1.7 percent, while energy prices declined 1.2 percent. Cost of non-energy industrial goods gained 0.2 percent and that of services advanced 1.1 percent.

In a separate communique, Eurostat said the jobless rate remained unchanged at 12 percent in December. The rate was expected to rise to 12.1 percent.

The number of unemployed decreased 129,000 from November to 19.01 million.

In the EU28, the jobless rate was 10.7 percent in December, down from 10.8 percent in November.

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