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Euro area inflation rate projected to dip to 2.6% in February 2024

04 Mar '24

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Euro area inflation is expected to drop to 2.6 per cent in February 2024 from 2.8 per cent in January, per Eurostat.
Non-energy industrial goods inflation will decrease to 1.6 per cent from 2 per cent, while energy sector inflation improves to minus 3.7 per cent from minus 6.1 per cent, indicating easing price pressures and stabilisation in energy prices.

The annual inflation rate in the Euro area is projected to decrease to 2.6 per cent in February 2024, from 2.8 per cent recorded in January, according to a flash estimate from Eurostat, the statistical office of the European Union (EU). This decline reflects a slight easing in price pressures across the region.

A closer look at the main components contributing to the euro area inflation reveals a mixed picture. The rate for non-energy industrial goods is anticipated to fall to 1.6 per cent in February, down from 2 per cent in the previous month. On the other hand, the energy sector is showing signs of price stabilisation, with its annual inflation rate improving to minus 3.7 per cent in February, from minus 6.1 per cent in January.

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