Eurozone inflation fell to 8.5% in February
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As a result of February, inflation in the euro area slowed down by 0.1%, to 8.5% in annual terms, follows from Eurostat data. Final data matched with pre-assessment.
Consumer prices excluding energy and food products (CPI Core) rose to a record 5.6% in annual terms in February against 5.3% in January.
The growth in the cost of energy carriers slowed down from 18.9% to 13.7%. The dynamics of prices for food, alcohol and tobacco products increased up to 15%, for services – by 4.8%, for manufactured goods – by 6.8%.
Inflation increased most in Hungary (25.8%), Latvia (20.1%) and the Czech Republic (18.4%), least of all in Luxembourg (4.8%), Belgium (5.5%) and Spain (6%).
Inflation values in the eurozone reached their lowest levels since May 2022. However, it still remains above the target of the European Central Bank (ECB) of 2%. In January, inflation rose by 0.8% to 8.6% yoy.
On the eve of the ECB raised three key rates by 50 basis points and announced that he was ready to raise them again in the future. The ECB believes that the rate hike should bring the eurozone closer to the medium-term inflation target of 2%.
More details – in the publication “Kommersant” “Bet with access to the endgame”.
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