Eurozone January preliminary CPI +5.1% vs +4.4% y/y expected

Prior +5.0%Core CPI +2.3% vs +1.9% y/y expectedPrior +2.6%That's a big blow to the ECB as euro area inflation unexpectedly hits a new record high, defying expectations. Soaring energy prices continue to drive up inflation mostly but food prices also surged to start the year. Meanwhile, services and