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Eurozone: Preliminary annual inflation rises 2.6% in February compared to the expected 2.5%

He Preliminary Consumer Price Index (CPI) of the Eurozone has grown at an annual rate of 2.6% in Februaryeither after increasing 2.8% in January, according to Eurostat. This is its lowest level in three months, although it has worsened the outlook for the market, which expected a reduction to 2.5%.

The monthly CPI has risen 0.6% after falling 0.4% the previous month. This is its largest increase in ten months.

The Annual core inflation has moderated to 3.1% in its preliminary reading, from the previous 3.3%, reaching its lowest level in almost two years, since March 2022. Despite this improvement, the indicator has not met the expectations of experts, who projected 2.9%.

Finally, monthly core inflation rose 0.7% in February after falling 0.9% in January, registering its biggest rise in eleven months.

Euro reaction

The Euro has reacted to the data with a slight initial rise, but has subsequently returned to pre-publication levels. He EUR/USD has risen to a daily high of 1.0822, and at the time of writing is trading above 1.0812, gaining a slight 0.03% on the day.

Source: Fx Street

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