Eurozone Inflation February 2018


Eurozone: Inflation falls in February

March 17, 2017

According to complete data released by Eurostat on 16 March, harmonized inflation came in at 1.1% in February, down from January’s 1.3% reading. The result was a notch below the preliminary estimate of 1.2% released on 28 February. As a result, inflation now sits further below the European Central Bank’s target rate of just under 2.0%. The moderation in price pressures was chiefly due to a smaller rise in food, alcohol and tobacco prices.

Annual average inflation inched down from January’s 1.5% to 1.4% in February. Meanwhile, core inflation was unchanged at January’s 1.2%. Harmonized consumer prices rose 0.2% from the previous month in February, contrasting the 0.9% decrease recorded in January.

Among the countries in the common-currency bloc, the Baltics saw the highest inflation, with Estonia and Lithuania recording the joint-highest rate of 3.2% in February. Meanwhile, Cyprus was the only country in the Eurozone to see harmonized consumer prices fall on an annual basis. Regarding the largest economies in the Eurozone, inflation fell in France (1.3%), Germany (1.2%) and Italy (0.5%) but rose in Spain (1.2%).

Eurozone Inflation Forecast

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.5% in 2018, which is unchanged from last month’s forecast. For 2019, panelists expect inflation to average 1.6%.

Author: Angela Bouzanis, Senior Economist

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Eurozone Inflation Chart

Euro Inflation by country February 2018 0

Note: Year-on-year var. of harmonized consumer price index (HICP) in %.
Source: Eurostat

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