Eurozone inflation continued to fall in February to 2.6% | Economy | EUROtoday

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Inflation within the eurozone barely accelerated its normal downward pattern in current months in February, reaching 2.6% year-on-year, in comparison with 2.8% in January, in response to preliminary estimates from the European statistical workplace of Eurostat. identified this Friday, only a week earlier than the brand new assembly of the European Central Bank (ECB) wherein it should decide on rates of interest. With 2.9% inflation in response to the group company, Spain was within the intermediate inflation zone of the international locations of the one foreign money within the month simply ended.

In normal, the rise in costs moderated in February in the principle parts of the purchasing basket: vitality costs continued to fall within the eurozone within the second month of the 12 months, though extra reasonably: -3.7% , in comparison with -6.1% in January. For its half, the rise within the value of contemporary meals was a lot decrease than within the earlier month: 2.2%, in comparison with 7% in January. The mixed inflation of meals, tobacco and alcohol registered the best determine within the basket, with 4.0%, however nonetheless under the 5.6% that was reached in January.

Core inflation – with out vitality and meals costs – additionally fell two tenths in February, to three.1%, in comparison with the primary month of the 12 months.

The first estimates of inflation in February level to the pattern marked for the reason that finish of final 12 months all through the eurozone: a downward path – interrupted solely, briefly, by a slight rebound to 2.9% in December – that additionally remained in January, when inflation stood at 2.8% within the euro zone. It additionally matches with the pattern in Spain, the place the National Institute of Statistics (INE) introduced on Thursday the slowdown in inflation in February, which stood at 2.8% after the robust rebound in January.

Eurostat barely will increase this determine to 2.9%, which might place Spain considerably above the eurozone common, though not among the many international locations with the best inflationary rigidity. Among the massive economies, Spanish inflation was under the French inflation (3.1%) in February, however above the German inflation (2.7%) and the Italian inflation, which, with 0.9%, is between the international locations with the bottom inflationary stress within the eurozone, solely surpassed by Latvia (0.7%). On the opposite facet of the dimensions, the best inflation charges in February had been recorded in Croatia (4.8%), Estonia (4.4%) and Austria (4.2%).

The preliminary figures from Eurostat are identified a couple of days earlier than the brand new assembly of the Governing Council of the ECB, on March 7, at its headquarters in Frankfurt, in a gathering wherein rates of interest should not anticipated to fall till the downward pattern in inflation will not be confirmed.

“The last thing I would want is for us to make a hasty decision, for inflation to rise again and for us to have to take more measures,” the president of the ECB, Christine Lagarde, not too long ago defined earlier than the European Parliament, Efe remembers.

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https://elpais.com/economia/2024-03-01/la-inflacion-de-la-eurozona-siguio-bajando-en-febrero-hasta-el-26.html