March 31, 2021
Eurostat, the statistical office of the European Union forecasted euro area annual inflation rate to be 1.3% in March 2021, 0.9% up from February 2021. This flash estimate was based on observation of the main component’s movements. As noted by Eurostat, “energy is expected to have the highest annual rate in March (4.3%, compared with -1.7% in February), followed by services (1.3%, compared with 1.2% in February), food, alcohol & tobacco (1.1%, compared with 1.3% in February) and non-energy industrial goods (0.3%, compared with 1.0% in February).”
The inflation rate as of March 2020 amounted to be 0.7% and remain unchanged at -0.3% from October 2020 to December 2020, increased to 1.3% in March 2021. It was observed that Food, alcohol & tobacco started the year at 1.5% and is expected to be 1.1% in March, and Energy annual inflation rate is expected to increase from -4.2% in January 2021 to 4.3% in March. Non-energy industry goods inflation rate also forecast declined from 1.5% in January to 0.3% in March 2021, while Service rate fell from 1.4% at the start of the year to 1.3% as of March 2021.
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