The consumer price inflation in the Euro Area 8,6%

The consumer price inflation in the Euro Area was revised slightly higher to 8.6 percent year-on-year in January 2023, up from a preliminary estimate of 8.5 percent and well above the European Central Bank's target of 2.0 percent.

 Still, the rate eased to the lowest level since last May, due to a slowdown in energy inflation (18.9 percent vs 25.5 percent in December). On the other hand, prices increased at a faster pace for both non-energy industrial goods (6.7 percent vs 6.4 percent) and food, alcohol & tobacco (14.1 percent vs 13.8 percent), while services inflation was unchanged at 4.4 percent. 

The core rate, which excludes volatile items such as energy and food, picked up to a fresh record high of 5.3 percent in January. On a monthly basis, consumer prices fell 0.2 percent, the third consecutive month of decline. source: EUROSTAT