Eurozone Inflation Inches Up
This February figure confirmed the preliminary projections previously reported by Eurostat, reinforcing earlier estimates. Across the European Union, the yearly inflation rate increased to 2.1% in February, slightly up from 2% recorded in January.
Among different sectors, services experienced the highest annual inflation in February at 3.4%, followed by food, alcohol, and tobacco at 2.5%, and non-energy industrial goods at 0.7%. In contrast, energy prices fell by 3.1% over the same period.
Country-specific data revealed that Romania recorded the steepest inflation at 8.3%, followed by Slovakia at 4% and Croatia at 3.9%. Conversely, the lowest annual increases were observed in Denmark (0.5%), the Greek Cypriot Administration (0.9%), and the Czech Republic (1%).
On a month-to-month basis, consumer prices in the euro area grew by 0.6%, which was slightly below the expected 0.7%.
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