Inflation eased, but food prices still rose the most in the euro area

According to Eurostat’s final data, annual inflation in the euro area fell to 8.5 percent in February, according to the preliminary estimate, from 8.6 percent in January, after it was at a record level of 10.6 percent in October. The February figure represents a nine-month low, but it is well above the European Central Bank’s 2.0 percent inflation target.

Compared to January, consumer prices in the euro area increased by 0.8 percent in February, when a decrease of 0.2 percent was recorded.

Food, alcoholic beverages and tobacco products contributed the most to the increase in the annual price index, the increase accelerated to 15 percent from 14.1 percent in January.