Annual inflation down to 1.2% in the euro area

18 March 2020

The euro area annual inflation rate was 1.2% in February 2020, down from 1.4% in January. A year earlier, the rate was 1.5%. European Union annual inflation was 1.6% in February 2020, down from 1.7% in January.

The lowest annual rates were registered in Italy (0.2%), Greece (0.4%) and Portugal (0.5%). The highest annual rates were recorded in Hungary (4.4%), Poland (4.1%) and Czechia (3.7%). Compared with January, annual inflation fell in twenty-one Member States, remained stable in one and rose in five.

In February, the largest contribution to the annual euro area inflation rate came from services (+0.72 percentage points, pp), followed by food, alcohol & tobacco (+0.41 pp), non-energy industrial goods (+0.13 pp) and energy (-0.03 pp).

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