New data
Inflation rate in Eurozone drops slightly
The inflation grew for several months, now there is a decline. For example, energy and services are no longer so expensive. However, this does not apply to an important price group.
Inflation in the euro zone declined somewhat in February. Consumer prices were 2.4 percent higher than in February 2024, as the Statistikamt Eurostat announced on Monday in Luxembourg according to an initial estimate. In January, the inflation rate was still at 2.5 percent. Before that, she had increased four months in a row. For February, economists forecasted an average decline to 2.3 percent. Compared to the previous month, consumer prices rose by 0.5 percent in February.
The price increase was depressed primarily through the lower price pressure in the energy sector. Here the inflation rate fell from 1.9 percent in the previous month to only 0.2 percent. In the important service sector, the rate dropped from 3.9 percent to 3.7 percent. In contrast, inflation in food has increased, and at 2.7 percent it was 0.4 percentage points higher than in January.
The European Central Bank (ECB) is aiming for an inflation rate of two percent in the medium term. In January, the ECB reduced the key interest rates by 0.25 percentage points. An interest reduction is expected again for this Thursday.
dpa
Source: Stern
