Inflation in the eurozone accelerated for the second consecutive month in December, driven primarily by rising costs in energy and services, keeping it significantly above the European Central Bank’s (ECB) target.
According to Eurostat’s latest report, consumer prices across the currency bloc increased by 2.4 percent on an annual basis, up from 2.2 percent in November. On a month-to-month basis, prices edged up by 0.4 percent.
Services remain the largest contributor to inflation, with prices climbing 4.0 percent year-on-year and jumping a notable 0.8 percent compared to November. Energy prices also rose by 0.6 percent from the previous month, pushing them back above levels seen the previous year after four months of year-on-year declines. Meanwhile, the pace of price increases for unprocessed food moderated, with annual growth easing to 1.7 percent in December from 2.3 percent in November.













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