Eurozone's Inflation Rate Sees a Slight Decrease

According to the latest flash estimate from Eurostat, the European Union's statistical office, the Eurozone's consumer price index (CPI) experienced a 2.4% rise in February on an annual basis. This marks a slight decrease from the 2.5% inflation rate observed in January.

Breaking Down the Price Increases

The most significant price hikes were in the services sector, with a 3.7% increase, followed closely by food, alcohol, and tobacco at 2.7%. Meanwhile, non-energy industrial goods saw a modest rise of 0.6%, and energy prices edged up by 0.2%.

Inflation Rates Across Member States

Among the Eurozone countries, Croatia and Belgium reported the highest inflation rates, at 4.7% and 4.4% respectively, as measured by the Harmonised Index of Consumer Prices. On the other end of the spectrum, France recorded the lowest rate at 0.9%.

On a monthly basis, consumer prices in the euro area increased by 0.5%.