Eurozone Inflation Slows To 2.6% In February, Above Forecasts

The European Union’s statistical office’s report, which includes preliminary data, shows that consumer prices in the eurozone rose 2.6% annually in February.

As a result, inflation decreased from 2.8% in January.

According to Trading Economics’ analyst consensus projection, consumer price rise would slow down to 2.5%.

The fall in energy costs in the eurozone slowed to 3.7% in February from 6.1% in January. Food, alcohol, and tobacco items saw a fall in growth rate to 4% from 5.6%, industrial products saw a decrease to 1.6% from 2%, and services saw a decrease to 3.9% from 4%.

The CPI Core, which measures price inflation exclusive of food and energy, decreased to 3.1% in February from 3.3% in January, marking the lowest level since March 2022. Experts forecasted the core inflation to drop to 2.9%.

Consumer prices in the area increased by 0.6% last month after falling by 0.4% in January, making February the month with the largest growth since April 2023.

source: tradingeconomics.com

You might also like

Leave a Comment