The Eurozone inflation is expected to continue its slowdown in February, reaching 1.2%, compared with 1.3% in the previous month. This is the preliminary estimates of the European Statistical Office Eurostat. The main push of consumer prices continues to come from energy prices as well as in recent months. However, the growth slowed slightly compared to the first month of this year – from 2.2% to 2.1%.
Food, alcohol and tobacco prices sharply slowed their rise on month-on-month basis from 1.9% to 1.1%.
However, the services prices accelerated during the month, albeit only marginally – to 1.3% compared to 1.2% in January. The prices of non-energy industrial goods also showed a slight increase – from 0.6% in January to 0.7% in February.
However, the core inflation, which excludes changes in volatile commodity prices such as energy and food and is considered a more accurate indicator, remains unchanged at 1.0%.
Eurostat final inflation data in the Eurozone and the European Union as a whole will be published on March 16.