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Eurozone inflation slows in February

Staff writer |
Eurozone inflation slowed in February to the level last seen in October, final data from Eurostat showed. Inflation fell to 0.7 percent in February from 0.8 percent in January. The flash estimate for February was revised down from 0.8 percent.

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The figure has been staying below the European Central Bank's target of 'below, but close to 2 percent' for the thirteenth consecutive month. Meanwhile, core inflation came in line with preliminary estimate. Core inflation rose to 1 percent from 0.8 percent a month ago.

On a monthly basis, overall consumer prices climbed 0.3 percent and core prices moved up 0.5 percent.

Food, alcohol and tobacco prices advanced 1.5 percent and non-energy industrial goods prices gained 0.4 percent. Cost of services were up 1.3 percent from last year. However, energy prices declined 2.3 percent annually, following a 1.2 percent drop in the prior month.

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