first_img whatsapp Tags: NULL KCS-content Show Comments ▼ Monday 28 February 2011 8:16 pm INFLATION in the Eurozone was revised down to an annual rate of 2.3 per cent in January, yesterday – surprising economists who had expected it to be held at the earlier estimate of 2.4 per cent.However, strong pressures from oil and food prices are expected to increase the harmonised index of consumer prices (HICP) by one or two percentage points in February.The first “flash” estimate of consumer price inflation in February for the Eurozone is released this morning.“We expect ‘flash’ preliminary HICP to have increased to 2.5 per cent year-on-year in February,” said Fabio Fois of Barclays Capital.An increase to just 2.4 per cent would take inflation to its highest level since October 2008.Core inflation – excluding food, energy, alcohol and tobacco – stood at 1.1 per cent across the single currency area for January.Despite food inflation dropping to 1.5 per cent, from 1.8 per cent in December, it is expected to drive prices upwards in coming months, along with rising oil prices.“We continue to expect energy and food inflation to remain the largest contributors to the headline inflation rate this year,” Fois said. “In terms of core inflation, we would expect it to keep moving sideways.”French price increases for January surprised on the downside recently, but yesterday Spanish consumer price inflation for February was estimated at 3.4 per cent – a strong upturn from January’s rate of three per cent.Across the European Union as a whole, consumer price inflation stayed at 2.7 per cent in January — one per cent higher than the annualised rate a year earlier. Share Eurozone inflation revised down but oil and food costs expected to weigh More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com whatsapplast_img

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