{"id":20553,"date":"2024-02-23T14:04:44","date_gmt":"2024-02-23T13:04:44","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=20553"},"modified":"2024-02-23T14:04:44","modified_gmt":"2024-02-23T13:04:44","slug":"eurozone-inflation-remains-lofty","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/eurozone-inflation-remains-lofty\/","title":{"rendered":"Eurozone: inflation remains lofty"},"content":{"rendered":"<h2>Chart of the Week<\/h2>\n<p>Eurostat has just published its final version of January\u2019s eurozone price index. On a rolling 12-month basis, headline inflation came in at 2.8%, down from 2.9% in December. The figure confirms the flash estimate published on 1\u00a0February. January\u2019s core inflation, which excludes food and energy, came in at 3.3%.<\/p>\n<p>The ECB has used these figures to update and seasonally adjust its monthly price-change data.<\/p>\n<p>Following low figures from September to November, core inflation increased 0.25% in December and 0.30% in January. To achieve the ECB\u2019s inflation target, they would need to come in significantly lower, at 0.17% on average.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-20557\" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/02\/graphique-EN-300x145.png\" alt=\"\" width=\"854\" height=\"413\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/02\/graphique-EN-300x145.png 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/02\/graphique-EN-768x370.png 768w\" sizes=\"auto, (max-width: 854px) 100vw, 854px\" \/><\/p>\n<h3><b>OUR <\/b><b>ANALYSIS<\/b><\/h3>\n<p>The price of services is contributing significantly to these strong inflation figures. In January, services prices rose by 0.29% and 0.36% compared with a pre-Covid average of 0.15%. Wages heavily influence the prices charged for services and recent data reveal that wage growth is still running too high.<\/p>\n<p>Although the base effect of high inflation in February 2023 should soften the year-on-year figure for February 2024, the latest inflation readings will do little to convince the ECB that consumer prices are heading in the right direction.<\/p>\n<p>***<\/p>\n<p>Written on Feburary 23, 2024. This is not an investment advice. Opinions subject to change.<\/p>\n<p>See also: <a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/shipping-disruption-troubled-waters-in-the-suez-canal\/\">https:\/\/latribune.lazardfreresgestion.fr\/en\/shipping-disruption-troubled-waters-in-the-suez-canal\/<\/a><\/p>\n<p>***<\/p>\n<p>This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chart of the Week Eurostat has just published its final version of January\u2019s eurozone price index. On a rolling 12-month&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":20263,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[2659,2658,2660],"class_list":["post-20553","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-international-shipping-traffic","tag-shipping-costs","tag-suez-trade-route"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Eurozone: inflation remains lofty<\/title>\n<meta name=\"description\" content=\"Inflation remains lotfy as Eurostat has just published its final version of January\u2019s eurozone price index.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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