Hot on the heels of this week’s ‘surprise’ inflation prints in France, Spain, and Germany, aggregate Euro-area inflation remains elevated at +8.5%.
The drivers were broad-based, with food, alcohol & tobacco, and energy prices still (un)comfortably above double-digit levels:
Most worryingly for policymakers, core inflation (ex food and energy) rose to a record +5.6% from January.
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