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Eurozone Sees Upward Trend in Annual Inflation
(MENAFN) Annual inflation in the euro area reached 1.9% in February, up from 1.7% in January, confirming preliminary estimates, according to reports. Across the European Union, the annual inflation rate rose to 2.1%, compared with 2% the previous month.
Among sectors, services recorded the highest annual increase at 3.4%, followed by food, alcohol, and tobacco at 2.5%, while non-energy industrial goods rose by 0.7%. Energy prices, in contrast, fell by 3.1% during the month.
The countries with the highest inflation rates included Romania at 8.3%, Slovakia at 4%, and Croatia at 3.9%. Conversely, the lowest annual rates were observed in Denmark (0.5%), the Greek Cypriot Administration (0.9%), and the Czech Republic (1%).
On a monthly basis, consumer prices in the euro area increased by 0.6%, slightly below expectations of a 0.7% rise.
Among sectors, services recorded the highest annual increase at 3.4%, followed by food, alcohol, and tobacco at 2.5%, while non-energy industrial goods rose by 0.7%. Energy prices, in contrast, fell by 3.1% during the month.
The countries with the highest inflation rates included Romania at 8.3%, Slovakia at 4%, and Croatia at 3.9%. Conversely, the lowest annual rates were observed in Denmark (0.5%), the Greek Cypriot Administration (0.9%), and the Czech Republic (1%).
On a monthly basis, consumer prices in the euro area increased by 0.6%, slightly below expectations of a 0.7% rise.
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