Inflation accelerated in the euro area

It accelerated to a six-month peak, but still lagged behind the inflation target in consumer price growth in the euro area in December, according to a flash estimate of the Statistical Office of the European Union (Eurostat).

According to preliminary data released on Tuesday, consumer prices in the eurozone, which includes 19 EU countries, rose 1.3 percent year-on-year. They also saw a 1.3 percent rise in June, but less than that since.

Analysts also expected a 1.3 percent increase from December, following a 1.0 percent increase of the previous month. (MTI)