The fall in inflation recorded in January in the euro area is unexpected: 0,7% according to the preliminary estimate released by Eurostat, after it had already slowed down to 0,8% in December. Analysts had estimated a slight recovery (which did not occur) in inflation to 0,9 per cent.
The data puts further pressure on the ECB and fuels fears about the risk of deflation, with the index moving further and further away from what the central bank defines as "price stability": inflation below but close to 2 percent per year.
Again Eurostat recorded in December 129 fewer unemployed than the previous month. This is the first significant drop in the number of unemployed in the euro area, after a long period of deterioration.
Overall in the currency union there are 19 million 10 thousand unemployed, in any case 130 thousand more than in December 2012. The unemployment rate had reached a peak of 12,1 percent in September 2013.
