Consumer prices in the currency area rose 2.5% compared with the same month of 2024, and up from the 2.4% of December, with the outlook clouded by President Trump’s tariff policies.

Inflation across the eurozone ticked up thanks to a higher contribution from energy prices, while food inflation fell and core inflation remained stable at 2.7%. Base effects – which have driven inflation higher in recent months – eased in January, which contributed to keeping the increase in inflation muted.

Eurozone inflation ticked up slightly in January to 2.5 percent, edging higher for a fourth consecutive month driven by energy price increases, official data showed on Monday. The January rise in consumer prices was mainly down to energy costs,