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Business Briefing
In January 2026, annual inflation in the euro area decreased to 1.7%, down from 2.0% in December 2025, a notable shift that hints at easing cost pressures within households. However, beneath the headline figures, a diverse inflation landscape emerges; for instance, Romania and Slovakia reported significantly higher rates at 8.5% and 4.3%, respectively. This disparity signals potential challenges in achieving cohesive monetary stability across the bloc, as elevated inflation in certain member states could affect overall policy effectiveness. As the euro area adapts to these variances, the broader implications for economic cohesion in the region warrant careful observation.
This morning, Eurostat reported that annual inflation in the euro area is anticipated to decline to 1.7% in January 2026, down from 2.0% in December. Key components such as services and food show varied inflation rates compared to last month.
This morning, Eurostat released flash estimates indicating a 0.3% increase in GDP for both the euro area and the EU in Q4 2025. Year-on-year growth stands at 1.3% for the euro area and 1.5% for the EU. Employment rose by 0.2% in the same quarter.
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Jerome Powell, the head of the US Federal Reserve, dismissed speculation that former President Donald Trump could remove him from his position when he returns to office in January 2025. Speaking at a press conference after the Fed lowered its key interest rate to 4.5%-4.75%, Powell said he would not step down if asked, adding that the law protects his role from presidential interference.
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China, after decades of mostly export-based growth, must now deal with massive problems of industrial overcapacity. The country is now trying to encourage more domestic consumption and to diversify its trading partners.
In very traditional Republican terms, he’s talking about tax breaks and reduced regulation. In terms of some of his specific pledges on the economy, he’s talking about getting rid of income taxation on tips and overtime. These things combined have the potential to be quite domestically inflationary, I would say.
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