Analysts at ABN AMRO expect that Eurozone’s headline inflation to rise somewhat further, mainly due to upward base effects stemming from oil prices.
Key quotes
“The rise in energy inflation in November seems to have been more moderate than what could have been expected on the basis of upward base effects in oil prices.”
“This suggest that the upward impact of oil prices on energy inflation will filter through with a delay and materialize in the next few months.”
“Indeed, core inflation, which has remained stuck at a level close to 1% since the end of 2016, is expected to continue to hover around the same level in the coming months.”
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