The annual inflation rate in the euro area has dropped to 2.4 % in February.
The European Statistical Office (Eurostat) has announced the pioneering inflation data of the Euro area for February. Accordingly, the annual consumer price index (CPI) is 2.5 % in January in the euro area (CPI), reduced to 2.4 % in February. CPI increased by 0.5 percentage on a monthly basis in February. The market expectation is that the annual inflation will be 2.3 % in February. In February, the core inflation in the euro area is 2.6 % on the basis of annual. Looking at the main components of inflation, the highest price increase was seen in the service sector with 3.7 %. Next are food products, alcohol and tobacco with 2.7 %, industrial products with no energy with 0.6 %and energy products with 0.2 %. Inflation is 5 % in Estonia in February, 4.7 % in Croatia, 4.4 % in Belgium and 4 % in Slovakia. Annual inflation is 2.9 % in Spain, 2.8 % in Germany, 1.7 % in Italy and 0.9 % in France. On the other hand, the European Central Bank (ECB) aims to have 2 % inflation in medium term.