Eurozone inflation hits ECB target

AFP, BRUSSELS: Eurozone inflation in February hit the European Central Bank’s 2.0 per cent target for the first time since 2013 as its massive economic stimulus appeared to be finally paying off, figures showed yesterday.
Unemployment in the 19-country single currency area in January meanwhile was 9.6 per cent, unchanged from December but holding at its lowest rate since May 2009, the Eurostat statistics service said.
Analysts said the figures showed consumers have largely put aside immediate concerns over Brexit and the new US administration but while last year’s economic pick-up continues, further gains might be limited.
Higher oil and food prices have stoked inflation in the last year but they seem to have peaked out for the moment, they noted.
Analysts surveyed by Factset expected 2.0 per cent inflation after prices jumped 1.8 per cent in January following 1.1 per cent in December.
The Eurostat statistics service said the last time inflation was at 2.0 per cent was in January 2013.

Eurozone inflation hits ECB target

AFP, BRUSSELS: Eurozone inflation in February hit the European Central Banks 2.0 per cent target for the first time since 2013 as its massive economic stimulus appeared to be finally paying off, figures showed yesterday. Unemployment in the 19-country single currency area in January meanwhile was 9.6 per cent, unchanged from December but holding at its lowest rate since May 2009, the Eurostat statistics service said. Analysts said the figures showed consumers have largely put aside immediate concerns over Brexit and the new US administration but while last years economic pick-up continues, further gains might be limited. Higher oil and food prices have stoked inflation in the last year but they seem to have peaked out for the moment, they noted. Analysts surveyed by Factset expected 2.0 per cent inflation after prices jumped 1.8 per cent in January following 1.1 per cent in December. The Eurostat statistics service said the last time inflation was at 2.0 per cent was in January 2013.