Euro zone consumer prices up 1.8%

The euro zone's harmonised index of consumer prices rose a final 1

The euro zone's harmonised index of consumer prices rose a final 1.8 per cent year-on-year in February in line with the provisional estimate, EU statistics office Eurostat said.

The HICP rose 1.8 per cent year-on-year in January. Month-on-month, the HICP rose 0.3 per cent in February. Economists had forecast a rise of 0.3 per cent from January and a year-on-year increase of 1.8 per cent.

Eurostat said prices excluding energy, food, alcohol and tobacco - its favoured measure of core inflation - were up 1.9 per cent year-on-year in Feburuary, compared with a January rate of increase of 1.7 per cent.

Prices excluding energy and unprocessed food rose 1.9 per cent year-on-year, compared with an increase of 1.8 per cent in January.

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This measure of core inflation is closely watched by the European Central Bank.