Inflation in the euro zone accelerated in February

In February, inflation in the eurozone managed to exceed the target level of the ECB of just under 2 percent for the first time in four years thanks to a new rise in energy prices, showed final data from Eurostat, confirming preliminary assessment of European statistics.
The consumer price index (CPI) in the euro zone rose in February on a monthly basis by 0.4% and increased yoy by 2.0% after rising by 1.8% in January. This is the highest inflation in the region from January 2013 onwards, when it also increased by 2%.
Thus inflation in the euro zone managed to exceed, albeit small, medium-term target level of the ECB of just under 2 percent for the first time in four years.
Energy prices jumped in February by 9.3% annually, while prices of food, beverages and tobacco products rose by 2.5 percent from a year earlier, while prices of services increased by 1.3%. These data confirm that the sharp rise in inflation in recent months is due to the greatest extent of the solid growth of energy prices and a rise in food prices.
However, the main index of consumer prices (excluding prices of food, tobacco and energy) rose for the third consecutive month by 0.9%.