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January 24, 2018

Orbex, Eurozone's Inflation report shows increased numbers for the end of 2017

Eurozone Final CPI shows slower pace of increase.

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This article is originally referred from Orbex Market Recap.

The U.S. dollar was seen trading mixed last week mostly on account of lack of any strong fundamentals.

While starting the week on a soft note, the U.S. dollar index fell amid rising optimism for the euro currency.

However, mid-week, Apple Inc. announced that it would repatriate its overseas cash. The U.S. dollar rebounded as investors saw this as a positive for the USD.

The company which is valued over a billion dollars also said that it would expand its operations in the United States and add more jobs to the economy.

Eurozone Final CPI shows slower pace of increase

The European Statistics agency, Eurostat released the final inflation figures for the month of December.

As expected and based on the flash inflation report, headline consumer prices were confirmed to have increased 1.4% on the year, while core CPI which strips the volatile food and energy prices increased 0.9% in December on an annualized basis.

The inflation report for December showed that consumer prices rose at a slower pace after headline CPI previously peaked to 1.5%.

The weakness in the core CPI also indicated that consumer prices still remained below the ECB’s 2% inflation target rate.

Original Source: Orbex Market Recap

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