Euro prices remain stable

A sharp fall in the price of fuel and heating oil pulled down consumer prices in the eurozone as expected in February, but core inflation, which excludes the volatile energy component, edged higher, Eurostat data showed yesterday.

Eurostat, the EU’s statistical division, said consumer prices in the 19 countries sharing the euro currency rose by 0.6% on a month-on-month basis, making for a 0.3% year-on-year fall, less sharp that a 0.6% year-on-year decline evident in January.

The data confirms an earlier Eurostat estimate and is in line with economists’ forecasts.