In February, consumer prices in the eurozone increased by 2.6% compared to the same period last year, as indicated in a report by the statistical office of the European Union, based on preliminary data. This indicates a slowdown in inflation compared to January, when it was 2.8%. Analysts' forecast suggested a more significant decrease in consumer price growth rates to 2.5%. The decline in energy prices in the eurozone slowed to 3.7% in February from 6.1% in January. The growth rate of the cost of food, alcohol and tobacco products decreased to 4% from 5.6%, industrial products – to 1.6% from 2%, services – to 3.9% from 4%. Price growth excluding the cost of food and energy (CPI Core index) in February slowed to 3.1% from 3.3% a month earlier, reaching the lowest value since March 2022. Experts expected an even greater weakening of core inflation to 2.9%. Consumer prices in the euro area increased by 0.6% last month compared with January, when they decreased by 0.4%. This is the highest monthly growth since April last year.
