FX.co ★ Euro Zone Core Inflation Slows to 1.6% in January, Easing From December’s 1.9%

Core inflation in the Euro Zone, measured as the Consumer Price Index excluding tobacco, eased to 1.6% year-over-year in January 2026, down from 1.9% in December 2025. The data, updated on 25 February 2026, indicate a further cooling of underlying price pressures at the start of the year.

Both the current and previous readings compare prices to the same month a year earlier, highlighting the ongoing moderation in core inflation across the bloc. While December’s 1.9% print already pointed to a contained inflation backdrop, January’s 1.6% figure suggests disinflation is gaining traction, potentially reinforcing expectations that price dynamics are moving closer to levels seen as more consistent with long‑term price stability in the Euro Zone.