Categories: Market

Eurozone inflation fell to 8.5 percent

In January, the rate was again 8.6 percent. Economists had expected a more significant drop to 8.3 percent. When compared on a monthly basis, prices increased by 0.8 percent in February.

The core annual inflation rate, which excludes variable energy and food prices, rose surprisingly to 5.6 percent. This is a record level. General inflation is driven primarily by higher prices for food and luxury goods. On the other hand, the increase in energy prices weakened again.

The European Central Bank’s (ECB) price target of 2% in the medium term continues to be clearly exceeded. The central bank has struggled with high inflation with 0.50 point rate hikes in the last period. At the interest rate meeting in mid-March, financial markets also expect a 0.50 percentage point increase in key interest rates.

(SDA)

Source :Blick

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