The growth of prices in the Euro Zone accelerated at the beginning of this year. Second, the data revealed this Tuesday, January 31, by Eurostat, inflation in the region of the single currency should have risen to 1.8% in January, after having set at 1.1% in December 2016.
The value was higher than expected by analysts polled by Bloomberg, who anticipated that inflation would increase to 1.5%.
contributing to this increase were mainly energy prices, which have increased by 8.1%, following an increase of 2.6% in the previous month.
Looking for the other main components of inflation, the prices of food, alcohol and tobacco rose by 1.7%, those of services by 1.2% and those of industrial goods non-energy-by 0.5%.
The inflation in the Euro Zone in January hit, so, a value near the 2% target of the European Central Bank (ECB) is putting additional pressure on the monetary authority to revise its policy stimuli of unprecedented, especially on the part of Germany.
Several officers of the largest european economy – where inflation is expected to have increased to 1.9% in January – have appealed to the beginning of the withdrawal of stimulus from the ECB.
“THE ECB will have the difficult task of exiting the monetary policy ultra-expansionist. (…) Would perhaps be correct if the ECB dared to do this output this year,” said the minister German Finance in the mid of this month.
Also Sabine Lautenschlaeger, the element German of the six that make up the Executive Board of the ECB, admitted, last week, “there are all the pre-conditions for a steady increase of inflation”, and that “is optimistic that soon may turn to the question of the withdrawal of stimulus”.
(News updated at 10:29)