Inflation in February? Good news: In the euro zone it dropped to 2.6%

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Inflation rate in February eases in the eurozone.

The year-on-year inflation rate in the eurozone fell in February to 2.6%. The estimate is released by Eurostat and shared by Notícias ao Minuto.

In a comparative note, in January the year-on-year inflation rate was at 2.8%, measured by the Harmonized Index of Consumer Prices (HICP), and in February of 2023 it was 8.5%.

In addition, the data also points to a underlying inflation rate, excluding components with more volatile prices (such as energy, unprocessed food and tobacco), of 3.1% - also having slowed down.

The news explains further that "considering the main components of the indicator, the European statistical service refers that the one related to food, alcohol and tobacco is expected to have the highest inflation rate in February (4.0%), followed by services (3.9%), non-energy industrial goods (1.6%) and energy, with a negative rate of 3.7%."

Regarding the other countries in the euro area, in February, the country with the lowest year-on-year inflation rate was Latvia, at 0.7%, followed by Lithuania at 1.1%, and Finland at 1.2%. In contrast to Croatia, Estonia, and Austria, which had inflation rates above 4.4%.  

Regarding core inflation, the indicator also measured by IHPC, in Portugal the rate also fell to 2.3% - compared to 2.5% in January, and 8.6% in February 2023.

With inflation receding, prices are starting to stabilize. But do you want to maximize your savings even more for your monthly budget? If you have loans and/or insurance, Poupança no Minuto can help you lower installments through its free credit intermediation and insurance mediation services! Contact us and find out how we can help.