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Financial News: Eurozone Inflation Slows As Estimated

Eurozone Inflation Slows As Estimated

03/18/2020 - 06:46:00 (RTTNews)

(RTTNews) - Eurozone inflation eased as initially estimated to a three-month low in February, final data from Eurostat showed Wednesday.

Inflation in the currency bloc slowed to 1.2 percent in February from 1.4 percent in January. The rate came in line with the flash estimate published on March 3. This was the lowest since November.

Headline inflation remained well below the European Central Bank's target of "below, but close to 2 percent."

However, core inflation that excludes energy, food, alcohol and tobacco, edged up to 1.2 percent, as estimated, from 1.1 percent a month ago.

On a monthly basis, the harmonized index of consumer prices gained 0.2 percent in February, matching preliminary estimate.

Inflation in the EU slowed to 1.6 percent in February from 1.7 percent in January. The lowest annual rates were seen in Italy, Greece and Portugal, while Hungary, Poland and the Czech Republic posted the highest rates.

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