Brussels: The annual inflation rate in the euro area reached 1.9% in February, marking an increase from 1.7% in January, as reported by Eurostat on Wednesday. This rise in inflation was in line with Eurostat's preliminary estimates.

According to Anadolu Agency, the inflation rate across the European Union rose to 2.1% in February, slightly up from 2% in January. In February, the services sector experienced the highest annual rate at 3.4%, followed by food, alcohol, and tobacco at 2.5%, and non-energy industrial goods at 0.7%. However, energy prices saw a decline of 3.1% during the month.

In terms of specific countries, Romania recorded the highest inflation rate at 8.3%, followed by Slovakia at 4% and Croatia at 3.9%. Conversely, Denmark had the lowest annual inflation rate at 0.5%, while the Greek Cypriot Administration and the Czech Republic reported rates of 0.9% and 1%, respectively.

On a monthly basis, consumer prices in the euro area increased by 0.6%, which was below the estimated rise of 0.7%.