The Eurozone consumer prices for February have just been published as a preliminary estimate with +1.2%. With a previous month’s value of 1.3%, expectations for today were 1.2%.
The so-called “core rate”, which does not include energy and food prices (because they fluctuate too much), is 1.0%. Expected were 1.0%.
Food prices are rising by 2.4%, and thus continue to rise as strongly as in the previous months. They had been reported much weaker for Germany yesterday than in the previous months. However, unprocessed foods fell by -0.9% in the Eurozone.
Conclusion: Consumer prices are losing more and more of their power, from month to month. The ECB will be happy!