The pace of consumer price inflation in the euro area slowed in February

The annual inflation rate in the euro zone fell to 2.4 percent in February, from a six-month high of 2.5 percent in January, based on the harmonized index of consumer prices (HICP), calculated for EU comparison purposes. Analysts had previously expected a figure of 2.3 percent in February.

A year earlier, in February 2024, the annual increase in the euro zone consumer price index was 2.6 percent.

On a monthly basis, the price index rose by 0.5 percent in February after a monthly decrease of 0.3 percent in January.

According to a statement from Eurostat, energy prices rose by 0.2 percent compared to February last year, after an annual increase of 1.9 percent in January.

Services prices rose the most in February, by 3.7%, after 3.9% in January. Food, alcohol and tobacco prices rose to 2.7%, from 2.3% in the previous month, while the annual rate of increase in non-energy industrial goods prices rose to 0.6% in February, from 0.5% in the previous month.

Annual core inflation in the euro area, excluding energy, food, alcohol and tobacco, fell to 2.6% in February, the lowest since January 2022, from 2.7% in the previous month.