Eurozone: Annual inflation eases to 8.5% in February, core CPI reaches new highs at 5.6%

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He Consumer Price Index (CPI) of the euro zone has fallen one tenth in February, standing at the 8.5% compared to 8.6% in January, and meeting market expectations. This is the fourth consecutive month of setbacks for the indicator, which moderates to its lowest level since May 2022.

He monthly CPI has also coincided with the forecasts of the consensus, rising a 0.8% after falling 0.2% the previous month. This is the first rise in inflation after three consecutive months of declines.

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The Annual subjacent inflation has risen three tenths, rising to new all-time highs of 5.6%, as expected, compared to 5.3% in January. On a monthly basis, the core CPI (which excludes food and energy) has risen 0.8% after falling 0.8% the previous month. This is the largest increase since September.

EUR/USD reaction

EUR/USD has fallen 15 pips after the data, falling back to the 1.0630 zone, still a bit off the Asian session’s daily low of 1.0611. Previously, the pair has hit two-day highs at 1.0669 in the early European morning. At time of writing, the pair is trading above 1.0635, gaining 0.24% daily.

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Source: Fx Street

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