Eurozone Inflation at Four-Year High of 2% Increases Pressure on ECB

Eurozone inflation surged to its highest in four years last month.

Consumer prices in the 19 countries using the euro rose by 2.0 percent from February last year – up from January’s 1.8 percent.

Producer prices – the amount that manufacturers charge – jumped to an annual 3.5 percent rate, from January’s 1.6 percent, indicating further increases ahead.

However, underlying inflation – that is without volatile energy and food prices – remained weak, holding steady at 0.9 percent last month, suggesting prices will fall back down once a surge in the cost of oil abates. 

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Source: euronews.