Inflation in the Eurozone in February amounted to 8.5%
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Inflation in the Eurozone in February, according to preliminary counting European Statistical Agency (Eurostat), amounted to 8.5%. Compared to January, the inflation rate will fall by 0.1%, this will be the fourth consecutive month of price declines in the euro area. The maximum inflation rate in the euro area was recorded in October last year – 10.6%.
The decline in inflation, albeit a very conditional one, is due to the fall in energy prices. If at the end of January the growth in prices for them amounted to 18.9% in annual terms, then at the end of February this figure should decrease to 13.7%. At the same time, prices for food products, alcohol and tobacco, on the contrary, will noticeably increase compared to January – inflation in this category will be 15% in annual terms against 14.1% in January.
Eurostat forecasts diverged from the expectations of analysts polled by The Wall Street Journal. They predicted that inflation in the eurozone in February was to be 8.2%.
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