🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Euro zone February consumer price fall confirmed, but core inflation up

Published 17/03/2015, 10:05
© Reuters. Employees place and sort vegetables at Crimean Farmstead, Russia's first specialized grocery which sells products from Crimea, in the Moscow suburb of Khimki
NYF
-

BRUSSELS (Reuters) - A sharp fall in the price of fuel and heating oil pulled down consumer prices in the euro zone as expected in February but core inflation, which excludes the volatile energy component, edged higher, Eurostat data showed on Tuesday.

Eurostat said consumer prices in the 19 countries sharing the euro rose 0.6 percent month-on-month for a 0.3 percent year-on-year fall, less sharp that a 0.6 percent year-on-year decline in January.

The data confirms an earlier Eurostat estimate and is in line with economists forecasts.

Energy prices rose 1.6 percent on the month, but fell 7.9 percent year-on-year in February. Cheaper fuels for transport subtracted 0.64 percentage points from the overall end result ad les expensive heating oil took off another 0.19 points.

Prices of unprocessed food, another volatile component of the consumer price index, rose 0.8 percent on the month to increase 0.4 percent year-on-year -- the first annual rise since a 0.2 percent increase in November.

Without the energy and unprocessed food -- a measure the European Central Bank calls core inflation -- prices rose 0.5 percent month-on-month for a 0.7 percent annual gain, accelerating from the 0.6 percent year-on-year rate in January.

The ECB wants to keep inflation below, but close to 2 percent in annual terms over the medium term and started buying euro zone government bonds this month to inject cash into the economy and make prices rise at a faster pace.

© Reuters. Employees place and sort vegetables at Crimean Farmstead, Russia's first specialized grocery which sells products from Crimea, in the Moscow suburb of Khimki

Separately, Eurostat said employment in the euro zone in the final quarter of 2014 rose 0.1 percent against the previous three months and was 0.9 percent higher than in the same period of 2013.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.