Food inflation in the euro area slowed down in January
In January, according to the preliminary data of Eurostat, the statistical office of the EU, inflation in the euro area decreased to 2.8 percent from 2.9 percent in December.
Compared to the previous month, consumer prices decreased by 0.4 percent in January. In December, the monthly increase was still 0.2 percent.
Core inflation, excluding energy and food prices, moderated in January as well: it slowed to 3.3 percent on an annual basis after the 3.4 percent annual increase in December. Compared to the previous month, consumer prices fell by 0.9 percent excluding energy and food.
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