Eurozone Inflation Rises to 2.9%; UK House Prices and Construction Sector Show Signs of Recovery

As the ECB projects price growth to remain above its target through 2024, the UK sees a rise in house prices and a slowdown in the decline of its construction sector. Meanwhile, demand for electric vehicles in the UK flatlines.

Eurozone inflation rose to 2.9% in December, up from November's two-year low of 2.4%, due to a reduction in government subsidies on gas, electricity, and food.
The European Central Bank (ECB) is projecting that price growth will range between 2.5% and 3% through 2024, well above its 2% target, before slowing again next year.
UK house prices rose for the third consecutive month in December, reflecting a shortage of properties on the market.
The downturn in the UK’s construction sector eased last month to the slowest rate of decline since September, according to a survey.
Electric vehicle demand in the UK is flatlining, prompting the industry to call for a VAT cut to stimulate sales.