Eurozone Inflation Rises to 2.9% in December as Prices for Food, Alcohol and Tobacco Increase

Inflation in the Eurozone rose to 2.9% in December, jumping from 2.4% a month prior, but still slightly lower than a 3% rise forecast by economists in a Reuters poll.

According to the officials, food, alcohol and tobacco were the biggest contributors to an upward swing on prices, while the drag from lower energy prices was softer in December.

Meanwhile, core inflation dropped from 3.6% in November to 3.4% in December, which was in line with the forecast.