March 17, 2021
According to the statistical office of the European Union (Eurostat), in February 2021, the euro area annual inflation rate was 0.9%, stable compared to January 2021. However, it was noted that a year earlier the rate was 1.2%. Additionally, the European Union annual inflation was reported at 1.3%, greater than January 2021 rate of 1.2%.; relative to the previous year, the rate was 1.6%.
The lowest annual rates were observed in Greece (-1.9%), Slovenia (-1.1%) and Cyprus (-0.9%). The highest annual rates were recorded in Poland (3.6%), Hungary (3.3%) and Romania (2.5%). Compared with January, annual inflation decreased in ten Member States, remained stable in three and increased in fourteen.
Eurostat also noted, the highest contribution to the annual euro area inflation rate in February 2021 came from: services (+0.55 percentage points, pp), followed by food, alcohol & tobacco (+0.29 pp), non-energy industrial goods (+0.26 pp) and energy (-0.15 pp).
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