FX.co ★ Euro Area Core Inflation Edges Up to 2.3% in February, Topping January Reading

Core inflation in the Euro Zone, measured by the Harmonised Index of Consumer Prices excluding energy and food (HICP ex Energy & Food), inched higher in February 2026, reaching 2.3% year-over-year. This marks a slight acceleration from January 2026, when the indicator stood at 2.2% on an annual basis.

The data, updated on 3 March 2026, compares the change in prices for February 2026 to the same month a year earlier, following the same year-over-year methodology used for January. The uptick suggests that underlying price pressures in the euro area remain resilient, even as volatile components such as energy and food are stripped out of the calculation.

For policymakers and markets, the move from 2.2% to 2.3% in core inflation will be closely watched as a gauge of persistent inflation dynamics within the bloc, providing further context for future monetary policy decisions and expectations around the path of price stability in the Euro Zone.