Eurozone CPI confirmed at 2.6% in February; Trade hits surplus

Eurozone inflation in February was confirmed at 2.6%, down from 2.8% in January, according to official data released on Monday.

The rate compares with a figure of 8.5% a year earlier. Across the broader European Union, annual inflation was 2.8% in February 2024, down from 3.1% in January and 9.9% in 2023, said statistics agency Eurostat.

The lowest annual rates were registered in Latvia, Denmark (both 0.6%) and Italy (0.8%). The highest annual rates were recorded in Romania (7.1%), Croatia (4.8%) and Estonia (4.4%). Compared with January, annual inflation fell in 20 member States, remained stable in five and rose in two.

In a separate announcement, flash estimates showed a €11.4bn surplus in eurozone trade in goods with the rest of the world in January 2024, compared with a deficit of €32.6bn in January 2023.

Exports of goods to the rest of the world in January 2024 were €226bn, an increase of 1.3% compared with January 2023 (€223n).

Imports from the rest of the world stood at €214.5bn, a fall of 16.1% compared with January 2023.

Reporting by Frank Prenesti for Sharecast.com