Inflation in Greece stood at 3% in February, showing a slight slowdown.
According to data announced by Eurostat, inflation fell to 3% in February, on an annual basis, from 3.1% in January.
As for the Eurozone, inflation stood at 2.4% from 2.5% in January. This is a small decline, but the index is moving towards the European Central Bank’s target price of 2%. However, analysts expected a larger decline to 2.3%.
Looking at the main components of inflation in the Eurozone, services showed the highest annual rate in February (3.7%, compared to 3.9% in January), followed by food, alcohol and tobacco (2.7%, compared to 2.3% in January), non-energy industrial goods (0.6%, compared to 0.5% in January) and energy (0.2% in January).
Although still high, services inflation – which policymakers have been paying close attention to – fell to 3.7%. This is the first significant decline in the index since 4% in April 2024.
Core inflation in the eurozone, which excludes volatile energy and unprocessed food prices, stood at 2.6% year-on-year, down from 2.7%.
The data offers reassurance to ECB officials who are betting on meeting their inflation target in the coming months. However, while they are focused on that goal, they also have to deal with anaemic economic growth, the threat of US tariffs and peace talks over the Ukraine war.
