Annual inflation in the Eurozone was 2.6 percent in February

The European Statistical Office (Eurostat) has released the February inflation data for the Eurozone and the European Union (EU).

According to the data, annual inflation in the Eurozone, which was 2.8 percent in January, fell to 2.6 percent in February. The CPI rose by 0.6 percent on a monthly basis in February.

Market expectations were for annual inflation in the Eurozone to be 2.6 percent and monthly inflation to be 0.6 percent in February. The announced data matched market expectations.

In the EU, annual inflation, which was 3.1 percent in January, declined to 2.8 percent in February. The CPI in the EU was recorded at 0.6 percent on a monthly basis in February.

Looking at the main components of inflation in the Eurozone, the highest annual inflation was recorded in services at 1.73 percent.

Services were followed by food, alcohol, and tobacco products at 0.79 percent, and non-energy industrial goods at 0.42 percent, while energy products declined by 0.36 percent.

According to EU-harmonized data, inflation in February was 7.1 percent in Romania, 4.8 percent in Croatia, 4.4 percent in Estonia, and 4.2 percent in Austria.

News Source: AA