FX.co ★ Eurozone Inflation Slows To 2.6%

Inflation across the Eurozone subsided for the second consecutive month in February, according to preliminary data released by Eurostat on Friday.

The Harmonized Index of Consumer Prices (HICP) recorded a year-on-year increase of 2.6% in February, down from 2.8% in January. This was slightly higher than the predicted increase of 2.5%.

When energy, food, alcohol, and tobacco costs were excluded, core inflation decelerated to 3.1% from 3.3% the previous month. Notably, this figure exceeded economist predictions which were set at 2.9%.

For the month of February, the HICP saw an increment of 0.6%. The final version of these numbers is set to be released on March 18.