Euro area annual inflation at 8.5% in February

00:28 Fri, 24 March

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17.Mar .2023 21:00

Euro area annual inflation at 8.5% in February

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Annual inflation in the eurozone stood at 8.5% in February, according to final data released on Friday.

The rate dipped slightly from January’s 8.6%, but was still well above 5.9% in February 2022, Eurostat reported.

Food, alcohol and tobacco had the largest contribution to the main reading (up 3.10 percentage points), followed by services (up 2.02 percentage points), non-energy industrial goods (up 1.74 percentage points), and energy (up 1.64 percentage points).

On a monthly basis, consumer prices increased 0.8% in February.

Annual consumer inflation in the EU was at 9.9% in February, edging down from 10% in January.

The lowest annual inflation rates were in Luxembourg (4.8%), Belgium (5.4%), and Spain (6%), while the highest were in Hungary (25.8%), Latvia (20.1%), and the Czech Republic (18.4%).