FX.co ★ Euro Zone Core Inflation Inches Up to 1.8% in February, Signalling Mild Price Pressures

The Euro Zone’s CPI excluding tobacco edged higher in February 2026, reaching 1.8% year-over-year, up from 1.6% in January 2026, according to data updated on 18 March 2026. The indicator tracks price changes for consumer goods and services while stripping out tobacco, providing a cleaner view of underlying inflation dynamics across the currency bloc.

On a year-over-year basis, February’s reading indicates a modest acceleration in core price pressures compared with the same month a year earlier. The previous figure, measured in January, also reflected a year-over-year comparison, but at a lower rate of 1.6%, suggesting that underlying inflation has gained some traction at the start of 2026.

While the move from 1.6% to 1.8% remains relatively contained, the uptick will be closely watched by investors and policymakers as they assess whether the Euro Zone is seeing a gradual firming of inflation or a temporary fluctuation in price growth.