Brussels, 17/03/2014 (Agence Europe) - Eurozone annual inflation stood at 0.7% in February, down from 0.8% in January 2014 and December 2013, according to final figures released by the European Union's statistics office, Eurostat, on Monday 17 March.
Eurostat has revised down earlier forecasts of 0.8% inflation in the eurozone, generating comments about the danger of deflation in the eurozone with low prices, low pay and lacklustre growth feeding into one another and a high euro (close to $1.40) cancelling out the effect of economic reforms. In the EU28, inflation stood at 0.8% in February, down from 0.9% in January.
Annual inflation fell in six member states: Bulgaria (-2.1%), Cyprus (-1.3%), Greece (-0.9%), Croatia (-0.2), Portugal and Slovakia (both -0.1%). It is very low in Spain, Ireland and Sweden (0.1%), along with Slovenia (0.2%). The highest inflation is in the United Kingdom (1.9% in January), Finland and Malta (1.6%) along with Austria (1.5%).
The prices of fuels for transport, telecoms and heating oil have fallen. The main price rises were seen in tobacco, eating out and electricity. (MB)