Euro area annual consumer inflation hits 5.9% in February

By Tuba Sahin

ANKARA (AA) - Euro area annual consumer inflation hit a new high of 5.9% in February, according to the statistical office of the EU on Thursday.

February's final reading was up from 5.1% in January and 0.9% in February 2021, Eurostat said.

Consumer prices in the EU also jumped 6.2% year-on-year in February versus a 5.6% rise a month ago and 1.3% a year ago.

On a monthly basis, inflation in the euro area and the EU both rose 0.9% in February, from the previous month, the report showed.

The highest annual rates were recorded in Lithuania at 14%, Estonia with 11.6%, and the Czech Republic at 10%. The lowest annual rates were seen in Malta, France (both 4.2%), Portugal, Finland, and Sweden (all 4.4%).

Energy continued to be the main culprit behind the rise in annual inflation rate as prices rose 32% from the same month of last year in February.

Eurostat refers to inflation as the change in the price level of consumer goods and services during a given period.