Eurozone Final CPI rises by 0.2% MoM in Feb, meets estimates, EUR/USD around 1.10
|- Eurozone Annual inflation up to 1.2% in February.
- Eurozone Monthly inflation up to 0.2% in February.
- EUR/USD keeps its range around 1.1000 on the data release.
According to Eurostat’s final reading of the Eurozone CPI report for February, the consumer prices came in at +1.2% on a yearly basis, matching the flash estimate of +1.2%. While the core figures rose by 1.2% versus +1.2% previous.
On a monthly basis, the bloc’s CPI figure for Feb increased by 0.2% versus +0.2% expectations and -1.0% previous while the core CPI numbers arrived at +0.4% versus +0.4% expected and +0.4% last.
Key details (via Eurostat):
“The lowest annual rates were registered in Italy (0.2%), Greece (0.4%) and Portugal (0.5%). The highest annual rates were recorded in Hungary (4.4%), Poland (4.1%) and Czechia (3.7%). Compared with January, annual inflation fell in twenty-one Member States, remained stable in one and rose in five.
In February, the largest contribution to the annual euro area inflation rate came from services (+0.72 percentage points, pp), followed by food, alcohol & tobacco (+0.41 pp), non-energy industrial goods (+0.13 pp) and energy (-0.03 pp).”
FX implications:
The in-line with estimates Eurozone inflation data failed to move the shared currency, as EUR/USD kept it range around the 1.10 handle, modestly flat on the day.
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