Euro area inflation was confirmed at 0.4% MoM and 2.4% YoY in December, and core inflation was confirmed at 0.5% MoM and 2.7% YoY (where it has been for the last four readings. Services remains the main component of inflation at 1.78 ppts, followed by food at 0.51 ppts. Goods and non-energy goods combined only contribute 0.14 ppts.