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EUROPEAN INFLATION: Irish HICP Accelerates in December, Core Also Higher

EUROPEAN INFLATION
CEEMEAEurozoneBulletMarketsFixed Income BulletsForeign Exchange BulletsIreland

Irish HICP rose by 0.5pp to 1.0% Y/Y in December, its highest rate since August and the third consecutive acceleration. This comes as energy price deflation tapered off amid base effects, to -4.6% Y/Y vs -7.7% in November. 

  • The core rate (excl. energy and unprocessed food) meanwhile accelerated slightly this month, to 1.6% Y/Y vs 1.5% November.
  • Food inflation stands unchanged at 1.7% Y/Y in December.

Looking more broadly at the December Eurozone inflation round, the prints released so far (Spain, Belgium, Portugal) generally underpin calls for energy-driven headline upticks this month. However, core rates also appear to have accelerated a bit so far - analysts were rather looking for a broadly unchanged print for the overall Eurozone.

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Irish HICP rose by 0.5pp to 1.0% Y/Y in December, its highest rate since August and the third consecutive acceleration. This comes as energy price deflation tapered off amid base effects, to -4.6% Y/Y vs -7.7% in November. 

  • The core rate (excl. energy and unprocessed food) meanwhile accelerated slightly this month, to 1.6% Y/Y vs 1.5% November.
  • Food inflation stands unchanged at 1.7% Y/Y in December.

Looking more broadly at the December Eurozone inflation round, the prints released so far (Spain, Belgium, Portugal) generally underpin calls for energy-driven headline upticks this month. However, core rates also appear to have accelerated a bit so far - analysts were rather looking for a broadly unchanged print for the overall Eurozone.

Keep reading...Show less