Euro area consumer price inflation slowed to a four-month low in December on easing energy price growth, but an unexpected acceleration in core inflation pushes the case for the European Central Bank to continue with its hawkish stance.
Other economic data released on Friday suggested that recession is likely to be shallower than estimated previously. At the end of 2022, economic confidence strengthened to a four-month high on widespread improvements across trade, services, industry, and construction and among consumers.
Official data also showed a rebound in retail sales in November, underpinned by an upturn in non-food product turnover.
Consumer price inflation slowed more-than-expected to 9.2 percent in December from 10.1 in November, preliminary data from Eurostat revealed. Prices were forecast to rise 9.7 percent.
by Renju Jaya
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