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Modest Rise In Sequential SA Monthly Inflation After Negative Prints In November (1/2)

EUROZONE DATA

Seasonally adjusted flash HICP data released by the ECB show a small rebound in sequential core inflation in December to +0.22% M/M (vs -0.09% prior).

  • Both services and non-energy industrial goods prices rose on a SA sequential basis in December after negative prints in November. Services inflation was +0.22% M/M (vs -0.06% prior) while NEIG was +0.23% M/M (vs -0.15% prior).
  • The headline print rose 0.02% M/M (vs -0.22% prior).
  • Processed and unprocessed food components softened on the month at 0.08% M/M and -0.16% M/M respectively.

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