Inflation was 3.2% in Greece in February (unchanged from January) and 2.6% for the Eurozone (up from 2.8% in January), according to preliminary data from Eurostat.

Looking at the main components of inflation in the euro area, food, alcohol and tobacco are expected to have the highest annual rate in February (4.0%, down from 5.6% in January), followed by services (3.9%, down from 4.0% in January), non-energy industrial goods (1.6%, down from 2.0% in January) and energy (-3.7%, down from -6.1% in January).

Inflation in France fell to a 2.5-year low in February, reaching 3.1% compared with 3.4% in January.

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Inflation in Germany fell to its lowest level since mid-2021 in February, according to preliminary data released by the country’s statistics office.

Inflation in Spain recorded a significant slowdown in February. In particular, the consumer price index stood at 2.8% year-on-year, down from 3.4% in January.