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Eurozone headline inflation accelerates in December 2019

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Eurozone headline inflation accelerates in December 2019

Annual inflation in the eurozone accelerated to 1.3% in December 2019 from 1.0% in November 2019, flash data from Eurostat showed.

The reading was in line with the consensus estimate of economists polled by Econoday.

Core inflation, which excludes energy, food, alcohol and tobacco, also came in at 1.3%, unchanged from November.

The headline and core inflation rates remain under the European Central Bank's inflation target of "below, but close to, 2%." ECB policymakers are reportedly considering readjusting the target to 2% as part of a planned strategic review of the bank's monetary policy.

"[T]oday's numbers are likely to keep the ECB in a wait-and-see mode," though that may be temporary, analysts at Nordea Markets wrote in a note.

On a monthly basis, headline inflation was at 0.3%, while core inflation came in at 0.4%.

By country, annual inflation rose to 0.5% from 0.2% in Italy and went up to 1.5% from 1.2% in Germany. France's annual inflation rose to 1.6% from 1.2%.