Inflation in Eurozone shows decline for fourth consecutive month

Annual inflation in Eurozone dropped to 8.5% in February, as compared with 8.6% observed earlier in January. This means inflation is on a decline for the fourth consecutive month, according to data from Eurostat.
Compared with February 2022,

the biggest climb in prices was observed for food, alcoholic beverages and tobacco products,

which increased by 15% after the 14.1% climb observed in January.
Compared with the corresponding month of 2022, energy prices in Eurozone increased by 13.7% in February (18.9% in January). Prices of non-energy industrial commodities were 6.8% higher in February than a year ago. In January there was a 6.7% increase in prices.
Service prices in 20 countries of Eurozone were 4.8% higher than a year prior. In January service prices went up 4.4%.
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