Consumer prices in the euro area grew at the same rate as in January

Prices of food, alcohol and tobacco increased the most.

Consumer prices in the euro area continued to rise at a steady pace in February. According to a quick estimate by the European statistical office Eurostat, prices of goods and services in the region, which pays in euros, increased by 0.9 percent year on year in February, the same as in January. As regards the main components of inflation in the euro area, Eurostat's flash estimate suggests that food, alcohol and tobacco prices rose the most year on year in February, by 1.4 percent, a slightly slower growth rate than 1.5 percent in January. They were followed by prices of services (by 1.2 percent compared to 1.4 percent in January) and non-energy industrial products (by one percent after an increase of 1.5 percent in January). But the fall in energy prices in the eurozone also slowed markedly in February, to -1.7 percent from -4.2 percent in the first month of the year, Eurostat added.