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.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
