Eurozone Inflation Rises As Estimated

(RTTNews) - Eurozone inflation increased in February, as initially estimated, driven by faster service sector price growth and moderated energy cost decline, final data from Eurostat showed on Wednesday.

The harmonized index of consumer prices registered an annual increase of 1.9 percent after rising 1.7 percent in January. The rate came in line with the estimate published on March 3.

Core inflation that excludes energy, food, alcohol and tobacco increased to 2.4 percent, as estimated, from 2.2 percent a month ago.

Data showed that services inflation rose to 3.4 percent from 3.2 percent in January and the increase in non-energy industrial goods accelerated to 0.7 percent from 0.4 percent.

At the same time, energy prices fell at a pace of 3.1 percent, slower than the 4.0 percent drop in the previous month. Prices of food, alcohol and tobacco rose 2.5 percent, following the 2.6 percent rise seen a month ago.