Eurostat, the European Union’s statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 1.9% in February, up from 1.7% in January, exceeding market expectations.

The services sector contributed the most to inflation in September, rising to 3.4% from 3.2% in January. The food, alcoholic beverages, and tobacco sector index also increased to 2.6% from 2.7%, while the non-energy industrial goods index rose by 0.7% from 0.4%. The energy sector index, however, declined to -3.2% from -4.0% in January.

The core index, which excludes food and energy prices, rose to 2.4% from January’s reading of 2.2%, surpassing market expectations.