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HICP Revised Up to 10.1% y/y in Dec

EUROZONE DATA
MNI (London)

Eurozone final December HICP saw a small 0.1pp upwards revision to +10.1% y/y, implying a 0.5pp deceleration from November.

  • Prices fell by -0.1% m/m (in line with flash estimates), whilst core CPI stalled at 0.0% m/m, holding steady at the euro-era high of +5.0% y/y.
  • Across the bloc, annualised inflation rates softened in most countries, stalling in France (at +7.1%), Italy (at +12.6%) and Latvia (at +21.7%) and accelerating further in Slovenia, Slovakia and Finland.
  • Yesterday's the ECB hiked 50bp, in line with expectations.
  • Yet ECB terminal hike pricing pushed well above 3% after a hawkish meeting outcome Thursday in which Pres Lagarde suggested that 50bp hikes could be repeated at the next two meetings at least.

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