Consumer prices in the Euro Zone declined in January 2026, with the month-on-month Consumer Price Index (CPI) slipping by 0.5%, according to data updated on 4 February 2026. This marks a notable reversal from December 2025, when prices had still edged up by 0.2% on a monthly basis.
The latest reading indicates that, on a month-over-month basis, price pressures in the currency bloc have not only eased but moved into negative territory. The “actual” January figure of -0.5% compares with the “previous” 0.2% change recorded in December, which itself measured price growth relative to November 2025.
The shift from modest monthly inflation to outright deflationary movement in January highlights a cooling in short-term price dynamics across the Euro Zone. Market participants and policymakers are likely to watch subsequent releases closely to assess whether this negative monthly print is temporary or the start of a broader disinflationary trend.
