In the Eurozone: Annual Inflation Slips to 2.6%

In February 2024, the euro area witnessed a decline in its annual inflation rate, dropping to 2.6% from January's 2.8%. This shift marks a substantial decrease compared to the previous year's rate, which stood at a notable 8.5%. Similarly, the European Union's annual inflation rate for February 2024 was reported at 2.8%, down from January's 3.1% and significantly lower than the 9.9% recorded a year earlier. These statistics were recently published by Eurostat.

According to the latest data, the countries with the lowest annual inflation rates included Latvia and Denmark, both at a mere 0.6%, alongside Italy, which reported 0.8%. Conversely, Romania, Croatia, and Estonia topped the list with the highest annual inflation rates, registering 7.1%, 4.8%, and 4.4%, respectively. A comparative analysis with January reveals that annual inflation rates decreased in twenty Member States, remained stable in five, and increased in two.