Eurostat, the statistical office of the European Union, estimated a few moments ago that annual inflation in the eurozone rose to 2.4% in February in the preliminary reading, compared to 2.5% in January, beating expectations of growth of around 2.3%.
The largest contribution to inflation in February came from the services sector, which rose at an annual rate of 3.7% from 3.9% in January, while the food, alcohol and tobacco index rose by 2.7% from 2.3%.
The core index, which excludes food and energy prices, rose by 2.6% in February, compared to the January reading of 2.7%, while expectations were for a rise of 2.5%.
This decline, although below expectations, will support the decision of the European Central Bank at its meeting next Thursday to cut interest rates by a quarter of a basis point.
03/03/2025
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