The European Statistical Office (Eurostat) published the Eurozone's leading inflation data for December.

According to the data, annual inflation in the Eurozone, which was 2.4 percent in November, was determined as 2.9 percent in December. CPI increased by 0.2 percent on a monthly basis in December.

Market expectations were for annual inflation to be 3 percent in the Eurozone in December, and it was noteworthy that the data came in lower than market expectations.

Looking at the main components of inflation, the highest annual inflation was realized in food, alcohol and tobacco products with 6.1 percent. Food was followed by services with 4 percent and non-energy industrial products with 2.5 percent, while energy products fell by 6.7 percent.

According to EU harmonized data, inflation was 6.6 percent in Slovakia, 5.7 percent in Austria, 5.4 percent in Croatia, 4.3 percent in Estonia, 4.1 percent in France, 3.8 percent in Germany, 3.3 percent in Spain, 0.5 percent in Italy and Belgium.