BREAKING: Euro area inflation rate at record 5.1%

11:05 AM 2 February 2022

Annual inflation rate accelerated for the seventh straight month to a record high of 5.1% in January of 2021 from 5.0% in December, preliminary estimates showed. Analysts expected a reading of 4.4%. The core index which excludes energy, food, alcohol & tobacco decreased to 2.3% yoy, from 2.6% in December, above market estimates of 1.9%.

EURUSD is trading higher today and today’s data provided more fuel for bulls. The main currency pair is currently testing a major resistance zone in the 1.1300 area. Source: xStation5

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