Inflation is accelerating in Europe

Consumer prices in the Euro Area increased 1.8 percent year-on-year in January of 2017, following a 1.1 percent rise in December and in line with preliminary estimates. It is the highest inflation rate since February of 2013, boosted by fuel and food prices – Eurostat reveals.

Excluding energy, food, alcohol and tobacco, core inflation remained steady at 0.9 percent. On a monthly basis, prices fell 0.8 percent. Inflation Rate in the Euro Area averaged 2 percent from 1991 until 2017, reaching an all time high of 5 percent in July of 1991 and a record low of -0.70 percent in July of 2009. (MTI)