FRANKFURT — Annual eurozone inflation accelerated unexpectedly in December, hitting a new peak at 5 percent, according to preliminary Eurostat data released Friday.
- Johanna Treeck
- Politico
Most analysts had anticipated inflation to slow to 4.7 percent in December, from a previous eurozone-record of 4.9 percent in November.
The ECB targets inflation of 2 percent over the medium term.
Energy prices remain the biggest contributor to accelerating prices, rising 26 percent on the year.
Core inflation, which excludes volatile factors such as energy but also food, alcohol and tobacco, and is watched closely by European Central…