Inflation in the eurozone quickened in December for the second month in a row, as rising prices for energy and services kept it uncomfortably above the European Central Bank’s target.
Consumer prices rose by 2.4 percent on an annual basis across the currency area, up from 2.2 percent in November, Eurostat said in a release. In monthly terms, prices rose 0.4 percent.
Inflation in services remains the biggest contributor, up 4.0 percent annually, and up a chunky 0.8 percent just from November. Energy prices rose 0.6 percent on the month, bringing them back above year-earlier levels after four months of annual deflation. Price increases for unprocessed food, meanwhile, slowed to 1.7 percent annually from 2.3 percent the month before.
