Inflation down both in eurozone, EU in February

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate in the eurozone and the EU was down 2.6% and 2.8% in February, from 2.8% and 3.1% in January, respectively, official figures showed on Monday.

The 27-member bloc's statistical authority Eurostat recalled that the inflation rate was at 8.5% in February 2023 in the euro area and 9.9% for the EU.

The lowest annual rates were posted by Latvia, Denmark (both 0.6%) and Italy (0.8%) while the highest annual rates were seen in Romania (7.1%), Croatia (4.8%) and Estonia (4.4%).

Versus January, annual inflation dropped in 20 member states, remained stable in five and rose in two.

In February, the highest contributions to the annual euro area inflation rate came from services, food, alcohol tobacco and energy, Eurostat added.