Eurostat released its consumer price inflation data for the Eurozone on Monday. The preliminary consumer price inflation in the Eurozone declined to -0.2% year-on-year in February from 0.3% in January, missing expectations for a flat reading.

The preliminary consumer price inflation excluding food, energy, alcohol, and tobacco fell to an annual rate of 0.7% in February from 1.0% in January. Analysts had expected the index to decrease to 0.9%.

Food, alcohol and tobacco prices were up 0.7% in February, non-energy industrial goods prices gained 0.3%, and services prices climbed 1.0%, while energy prices dropped 8.0%.