Eurozone inflation hits seven-month low, falls more than expected
By Benjamin Chiou
Date: Monday 19 Jan 2026
(Sharecast News) - Inflation across the eurozone eased more than expected in December, according to figures from Eurostat on Monday, with the annual change in the consumer price index slipping below the European Central Bank's 2% target for the first time in seven months.
The CPI rose at a year-on-year rate of 1.9% last month, slowing from the 2.1% rate registered in November and October, Eurostat reported.
This was below the 2.0% consensus forecast and the lowest since May 2025.
The last time inflation dipped below the 1.9% level was in September 2024, when it briefly hit a 1.7% - a level not seen since early 2021.
Food, alcohol and tobacco price inflation picked up to 2.5% from 2.4%, while energy price deflation quickened to -1.9% from -0.5%, while services inflation eased to 3.4% from 3.5%.
Excluding the more volatile items like food, alcohol, tobacco and energy, core inflation slowed to 2.3% from 2.4%.
Cyprus registered the lowest annual rate of inflation at just 0.1%, following by France (0.7%) and Italy (1.2%), while the highest rates were recorded in Slovakia (4.1%) and Estonia (4.0%).
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