Annual inflation in eurozone hits historic high

Annual inflation in 19 eurozone countries, according to the final estimate, has accelerated in February to 5.9% from 5.1% a month earlier, the figure was the highest for the entire history of Eurostat observations, Report informs referring to the statistical agency.

Analysts polled by the Daily FX portal expected the index to remain at the level of the initial estimate of 5.8%.

A year earlier, inflation in the eurozone was only 0.9% per annum.

Only in February this year, consumer prices in the euro area, according to the final estimate, increased by 0.9%, which corresponds to the preliminary estimate.

At the same time, core annual inflation accelerated to 2.7% from 2.3% a month earlier, which is in line with analysts' expectations and preliminary estimates.