Core consumer price inflation in the Euro Zone accelerated sharply in January 2026, with the month-over-month indicator rising to 2.3%, up from 0.3% in December 2025. The data, updated on 4 February 2026, highlight a significant pickup in underlying price pressures at the start of the year.
The previous reading in December showed relatively subdued momentum, with core CPI up just 0.3% compared to November 2025. January’s 2.3% month-over-month advance therefore represents a notable shift in the inflation trend, suggesting a stronger build-up in prices once volatile components such as energy and food are excluded.
Because the measure is month-over-month, the current figure reflects the change in core prices in January versus December, while the prior figure captured December’s change versus November. The sharp move higher in January will likely draw increased attention from policymakers and markets monitoring the persistence of underlying inflation in the Euro Zone.
