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Eurozone Inflation Inches Up
(MENAFN) The annual inflation in the euro area climbed to 1.9% in February, rising from 1.7% in January, according to data released by Eurostat on Wednesday.
This February figure confirmed the preliminary projections previously reported by Eurostat, reinforcing earlier estimates. Across the European Union, the yearly inflation rate increased to 2.1% in February, slightly up from 2% recorded in January.
Among different sectors, services experienced the highest annual inflation in February at 3.4%, followed by food, alcohol, and tobacco at 2.5%, and non-energy industrial goods at 0.7%. In contrast, energy prices fell by 3.1% over the same period.
Country-specific data revealed that Romania recorded the steepest inflation at 8.3%, followed by Slovakia at 4% and Croatia at 3.9%. Conversely, the lowest annual increases were observed in Denmark (0.5%), the Greek Cypriot Administration (0.9%), and the Czech Republic (1%).
On a month-to-month basis, consumer prices in the euro area grew by 0.6%, which was slightly below the expected 0.7%.
This February figure confirmed the preliminary projections previously reported by Eurostat, reinforcing earlier estimates. Across the European Union, the yearly inflation rate increased to 2.1% in February, slightly up from 2% recorded in January.
Among different sectors, services experienced the highest annual inflation in February at 3.4%, followed by food, alcohol, and tobacco at 2.5%, and non-energy industrial goods at 0.7%. In contrast, energy prices fell by 3.1% over the same period.
Country-specific data revealed that Romania recorded the steepest inflation at 8.3%, followed by Slovakia at 4% and Croatia at 3.9%. Conversely, the lowest annual increases were observed in Denmark (0.5%), the Greek Cypriot Administration (0.9%), and the Czech Republic (1%).
On a month-to-month basis, consumer prices in the euro area grew by 0.6%, which was slightly below the expected 0.7%.
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