It is a similar story for the eurozone, who will also be releasing its latest inflation rate on Wednesday. Preliminary estimates revealed that price pressures in the Euro Area eased more than expected, with the annual rate hitting a four-month low. Inflation fell to 9.2% in December, below forecasts of 9.7%, marking a dip from 10.1% in November.
The rate shows a second consecutive monthly decline, with some early encouraging signs that inflation in the Eurozone may have peaked. However, inflation in the eurozone remains well above the ECB target of 2%.
