Eurozone February 2023 inflation rate was announced as 8.5 percent annually and 0.8 percent monthly.
Last month, the Eurozone inflation rate was announced as 8.6 percent on an annual basis in January 2023. In addition, inflation was announced as -0.2 percent monthly in January. These ratios met expectations exactly. Expectations for February annual inflation rates announced today were at 8.2 percent on an annual basis. February monthly inflation expectation was 0.8 percent. Expectations are that inflation may intensify on a monthly basis for the Euro Area.
In addition, the previous day, the European Central Bank’s interest rate increase and this interest rate increase was within the expectations.
Eurozone February 2023 Inflation Rates
Looking at the Euro Area annual inflation rates, it was 9.2 percent in December and 8.6 percent in January. Continuing to increase interest rates, the European Central Bank aims to lower the Euro Zone inflation rates. In this context, annual inflation in the Eurozone for February was 8.5 percent, while monthly inflation was 0.8 percent.
It was also observed that inflation in the USA decreased. However, recession concerns and banking crises erupted as a result of interest rate hikes on the US side. Despite all the concerns, the European Central Bank decided to increase the interest rate.
Despite all the interest rate hikes and economic conditions, Euro Zone inflation rates came under expectations. While there was a slight decrease on an annual basis, it was observed that inflation increased on a monthly basis.
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