FX.co ★ Euro Zone January CPI Slides Further to -0.6% MoM, Deepening Deflation Signal

Consumer prices in the Euro Zone declined further in January 2026, with the month‑over‑month Consumer Price Index (CPI) registering a -0.6% change, compared with a -0.5% reading in the previous month. Both readings compare price levels with the immediately preceding month, underscoring a strengthening deflationary trend at the start of the year.

According to data updated on 25 February 2026, the “previous” figure of -0.5% reflects the change in prices from the earlier month to December, while the “actual” -0.6% shows that prices in January fell even more sharply versus December. The back‑to‑back negative readings highlight persistent downward pressure on consumer prices across the Euro Zone on a month‑over‑month basis.