Euro area inflation was 0.5% MoM and 2.4% YoY in February, down from 2.5% YoY in January but slightly above expectations of 2.3% YoY.

• Food prices grew 0.4% MoM and 2.7% YoY but were offset by a -0.3% MoM decline in energy.
• Core inflation eased slightly to 2.6% YoY (previously 2.7% YoY) but was above expectations of a 2.5% YoY reading.
• Core goods prices were up 0.4% MoM and the annual rate accelerated 0.1 ppts to 0.6% YoY.
• Core services prices were up 0.7% MoM but the annual rate eased to 3.7% YoY, the lowest since April 2024.