| Consensus | Consensus Range | Actual | Previous | |
| Month over Month | 0.7% | 0.7% to 0.7% | 0.6% | 0.7% |
| Year over Year | 1.0% | 1.0% to 1.0% | 0.9% | 1.0% |
| HICP - M/M | 0.7% | 0.8% | ||
| HICP - Y/Y | 1.1% | 1.1% |
Highlights
CPI accelerated in February, rising 0.6 percent month-on-month compared to a 0.3 percent decline in January, while rising 0.9 percent year-on-year, after a 0.3 percent in January increase. Core inflation rose 0.3 percent in February and 0.9 percent from a year ago.
The result is below the initial readings which called for a 0.7 percent increase on the month and 1.0 percent year-on-year increase, which were also the Econoday median forecasts.
Prices for manufactured products increased 1.4 percent on the month, while those for services increased by 0.5 percent, and falling 0.2 percent and gaining 1.6 percent respectively from their year-ago levels.
Energy prices helped keep those gains in check, rising a 0.3 percent month-on-month and while falling 2.9 percent year-on-year. Electricity prices were down 3.6 percent, with petroleum products 2.2 percent less expensive. While lower, they didn’t contract at a slower pace than in January.
The Harmonized Index of Consumer Prices showed a 0.7 percent increase month-on-month and 1.1 percent increase from a year ago. This measure is used to compare inflation across European economies.
Consumers will already be facing higher prices for fuels amid the conflict in the Middle East which will be reflected in the March results. Energy prices for at least the past year have had a calming effect on prices, but that is all about the change. Further uncertainty is being added by the Trump administration looking for new ways to levy tariffs on its trading partners after many of those imposed earlier were declared illegal.
Market Consensus Before Announcement
The consensus looks for no revision in the final from the flash with CPI up 0.7 percent on month and 1.0 percent on year.