Eurozone Inflation February 2017

Eurozone

Eurozone: Inflation rises above ECB target in February

March 2, 2017

Inflation in the Eurozone rose to the highest level since December 2012 in February, according to a flash estimate released by Eurostat on 2 March. Harmonized inflation was 2.0% in February, above January’s 1.8%. The result was in line with market expectations and brought inflation above the ECB’s target of just under 2.0%, raising questions if the Bank will alter its ultra-easy monetary policy and bond-buying program.

According to Eurostat, the main contributor to February’s rise was higher prices for energy. Core inflation remained stable at 0.9%, suggesting that underlying price pressures are still moderate. Month-on-month price variations and a more detailed set of data will be provided on 16 March.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.5% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists expect inflation to also average 1.5%.


Author: Angela Bouzanis, Senior Economist

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