Inflation in the Eurozone in February amounted to 5.8%

Eurozone inflation rose to 5.8% in February from 5.1% in January, according to Eurostat’s preliminary forecast released today. Most of the increase was in the energy sector.

The corresponding index rose by 31%, followed by food with an increase of 3% to 6%.

The largest price increase was recorded in Estonia and Lithuania – 12.4% and 13.9% respectively. As for Greece, the situation is as follows: inflation was 6.3% compared to 5.5% in January.

Eurostat specifically measures the harmonized consumer price index, which is lower than the official inflation measured by ELSTAT. Given that January inflation was measured at 6.2%, in February, based on the trend recorded by Eurostat, according to Greek data, price increases will reach or exceed 7%.

The HICP Harmonized Consumer Price Index is the cost of a basket of basic goods to European consumers. Calculating it in each country of the European Union helps measure inflation and formulate the monetary policy of the European Central Bank. The HICP index is also the basis for calculating the European consumer price index, which averages household spending in countries EU.

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