The inflation rate in the Euro Area increased to 2.40% in December from 2.20% in November, matching consensus. The Consumer Price Index rose 0.40% in December over the previous month. The annual core inflation rate in the Euro Area,

The pace of price rises in the euro zone's largest economy, Germany, hit a higher-than-expected 2.9% in December, according to figures published separately this week. Inflation in France meanwhile came in at 1.8% last month, below a Reuters analyst poll forecasting a 1.9% print.

Irish inflation rose to an annual rate of 1.4% in December after a reading of 1% in November, Central Statistics Office data showed on Thursday.