According to the report from Eurostat, the euro area annual inflation rate was 0.9% in February 2021, stable compared to January. A year earlier, the rate was 1.2%. European Union annual inflation was 1.3% in February 2021, up from 1.2% in January. A year earlier, the rate was 1.6%.

The lowest annual rates were registered in Greece (-1.9%), Slovenia (-1.1%) and Cyprus (-0.9%). The highest annual rates were recorded in Poland (3.6%), Hungary (3.3%) and Romania (2.5%). Compared with January, annual inflation fell in ten Member States, remained stable in three and rose in fourteen.

In February, the highest contribution to the annual euro area inflation rate came from services (+0.55 percentage points, pp), followed by food, alcohol & tobacco (+0.29 pp), non-energy industrial goods (+0.26 pp) and energy (-0.15 pp).