FOREX TradingCharts.com

Financial News: Eurozone Inflation Impedes Prospects Of Early Rate Cut

Eurozone Inflation Impedes Prospects Of Early Rate Cut

03/01/2024 - 07:46:00 (RTTNews)

(RTTNews) - Eurozone inflation softened to a three-month low in February, while underlying price pressures remained high, strengthening the chances of the European Central Bank delaying its first interest rate cut.

The harmonized index of consumer prices, or HICP, rose 2.6 percent annually after rising 2.8 percent in January, flash data from Eurostat showed on Friday.

Economists had expected the headline inflation figure to slow to 2.5 percent.

Core inflation that excludes energy, food, alcohol and tobacco eased to 3.1 percent from 3.3 percent a month ago. However, this was above economists' forecast of 2.9 percent.

Most policymakers of the European Central Bank have stuck to the view that they need more time to be convinced that inflation will fall sustainably to 2 percent, Capital Economics' economist Jack Allen-Reynolds said.

February's inflation data will have strengthened that conviction, the economist added. An interest rate cut in April, as earlier priced in, is now not going to happen, he added.

On a monthly basis, the HICP gained 0.6 percent in February. Final data is due on March 18.

Among components of the HICP, food, alcohol and tobacco prices increased the most, up by 4.0 percent but slower than the 5.6 percent rise in January.

Services cost rose 3.9 percent after a 4.0 percent gain.

The decline in energy prices slowed to 3.7 percent from 6.1 percent. Non-energy industrial goods prices moved up 1.6 percent, following a 2.0 percent rise.

Elsewhere, data showed that the unemployment rate in the currency bloc fell to 6.4 percent in January from 6.5 percent in December.

The number of unemployed declined by 34,000 from December. Compared to the same period last year, unemployment fell 232,000.

The unemployment rate among youth remained unchanged at 14.5 percent in January.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2024 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


German Wholesale Prices Fall 3.0% (24 min(s), 21 sec(s) ago)
(RTTNews) - Germany's wholesale prices continued to decline in March, and at a steady pace, da ...Full Story»

UK Unemployment Rate Rises (01 hr(s), 15 min(s), 21 sec(s) ago)
(RTTNews) - The UK unemployment rate rose in three months to February, data from the Office for Na ...Full Story»

Finland Economic Output Recovers 0.8% (01 hr(s), 26 min(s), 21 sec(s) ago)
(RTTNews) - Finland's economic output expanded for the first time in seven months in February, ...Full Story»

European Economic News Preview: UK Unemployment Data Due (02 hr(s), 21 min(s), 21 sec(s) ago)
(RTTNews) - Unemployment from the UK and economic confidence from Germany are the top economic new ...Full Story»

China GDP Expands Annualized 5.3% In Q1 (45 min(s), 39 sec(s) ago)
(RTTNews) - China's gross domestic product gained 5.3 percent on year in the first quarter of ...Full Story»

South Korea Export Prices Rise 0.4% On Month, 2.6% On Year In March (40 min(s), 39 sec(s) ago)
(RTTNews) - Export prices in South Korea were up 0.4 percent on month, the Bank of Korea said in T ...Full Story»

China Data On Tap For Tuesday (23 min(s), 39 sec(s) ago)
(RTTNews) - China is scheduled to release a batch of data on Tuesday, headlining the day's eco ...Full Story»

U.S. Business Inventories Rise Slightly More Than Expected In February (56 min(s), 39 sec(s) ago)
(RTTNews) - Business inventories in the U.S. increased by slightly more than expected in the month ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

German Wholesale Prices Fall 3.0%

04/16/2024 - 03:13 AM (RTTNews)
(RTTNews) - Germany's wholesale prices continued to decline in March, and at a steady pace, da ...Full Story>>

UK Unemployment Rate Rises

04/16/2024 - 02:22 AM (RTTNews)
(RTTNews) - The UK unemployment rate rose in three months to February, data from the Office for Na ...Full Story>>

Finland Economic Output Recovers 0.8%

04/16/2024 - 02:11 AM (RTTNews)
(RTTNews) - Finland's economic output expanded for the first time in seven months in February, ...Full Story>>

European Economic News Preview: UK Unemployment Data Due

04/16/2024 - 01:16 AM (RTTNews)
(RTTNews) - Unemployment from the UK and economic confidence from Germany are the top economic new ...Full Story>>

China GDP Expands Annualized 5.3% In Q1

04/15/2024 - 22:23 PM (RTTNews)
(RTTNews) - China's gross domestic product gained 5.3 percent on year in the first quarter of ...Full Story>>

Do not sell my personal information

Copyright © 2024. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.