A fall of just one tenth leaves no room for the European Central Bank
The inflation rate in the euro zone he slowed down a tenth rising from 8.6% annually in January to 8.5% in February according to the preliminary estimate of Eurostat, the statistical agency of the European Union.
The decline from the peak of 10.6% reached in October of last year continues, but very slowly. On the other hand, core inflation, which excludes the most volatile prices, accelerated from 5.3% to 5.6%.
In February, energy prices moderated year-on-year, but food prices increased.
- Germany and Italy recorded above-average inflation rates while those of France and Spain were lower.
In this context, it is assumed that the European Central Bank raise the interest rate by 50 basis points when they meet on March 16.
Although there is still no certainty about his next steps, there is no doubt that the monetary adjustment will continue because the ECB’s 2% inflation target is still a long way off.
It was also reported that the unemployment rate in the Eurozone was unchanged in January from December and remained at 6.1%. The highest unemployment rate was recorded in Spain with 13%. Italy and France were also above average.
“Amateur introvert. Pop culture trailblazer. Incurable bacon aficionado.”
