Energy price induced inflation spike to 1.8% in January while Q4/2016 growth soared to 0.5% qoq
Today, euro area growth and inflation data surprised on the upside. Flash inflation HICP data for January came in at 1.8% yoy, from +1.1% yoy before, above market expectations (of 1.5% yoy). This was the highest level since February 2013. Also, the flash GDP estimate for Q4/2016 came in at 0.5% qoq (from 0.3% qoq before), implying an annual growth rate of 1.7% in 2016.
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