Inflation inches up in February
According to complete data released by Eurostat on 15 March, harmonized inflation came in at 1.5% in February, slightly above January’s 1.4% and matching the preliminary estimate. January’s result had marked a nine-month low. Inflation sits below the European Central Bank’s target rate of near, but under, 2.0%. Higher price pressures for food, alcohol & tobacco drove February’s uptick.
Annual average harmonized inflation edged up to 1.9% in February from January’s 1.8%. Core inflation, meanwhile, was unchanged at 1.2%. On a monthly basis, harmonized consumer prices rose 0.3%, contrasting the 1.1% decrease seen in January.
Among the countries in the common-currency bloc, Greece (0.8%) and Ireland (0.7%) recorded the lowest inflation in February. On the flipside, the Netherlands (2.6%) and Latvia (2.8%) experienced the highest price pressures.