Euro zone inflation, January 2025

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Euro zone inflation, January 2025

A person buys products at a Mercadona store in Lisbon, Portugal, on January 25, 2025.

Luis Boza | Nurphoto | Getty Images

The euro zone economy accelerated to a hotter-than-expected 2.5% in January on an annual basis, flash data from statistics agency Eurostat showed Monday.

Economists polled by Reuters had expected the January inflation print to come in at 2.4%, unchanged from December.

Headline inflation in the euro zone hit a low of 1.7% in September, but has since re-accelerated as base effects from lower energy prices have faded. The European Central Bank last week said disinflation “is well on track.”

“Inflation has continued to develop broadly in line with the staff projections and is set to return to the Governing Council’s 2% medium-term target in the course of this year,” the bank added. “Most measures of underlying inflation suggest that inflation will settle at around the target on a sustained basis.”

The ECB on Thursday cut interest rates by 25 basis points, bringing the key deposit facility rate to 2.75%. Further rate reductions are expected from the ECB throughout the year.

The Monday data comes after several key euro zone economies, including France and Germany, last week reported their latest consumer price index data. The annual rate hit 1.8% in

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and 2.8% in Germany, according to preliminary data from the country’s statistics agencies. The figures are harmonized across the euro zone for comparability. 

This is a breaking news story, please check back for updates.

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