Euro Area Inflation Dips to 2.6% in February 2024

Annual inflation in the euro area was 2.6% in February 2024, down from 2.8% in January 2024.

Inflation in the EU was 2.8% in February 2024, compared to 3.1% in January.

Lowest rates were in Latvia, Denmark (0.6%) and Italy (0.8%). Highest in Romania (7.1%), Croatia (4.8%) and Estonia (4.4%).

Biggest contribution to euro area inflation was from services (+1.73 pp), followed by food, alcohol & tobacco (+0.79 pp).

Energy prices contributed -0.36 pp to the annual inflation rate in February 2024.