Eurozone Inflation Hits ECB 2% Target

Euro-area inflation accelerated to the fastest pace since January 2013, providing fresh arguments to those calling for an exit from the European Central Bank’s monetary stimulus program.

Consumer prices rose 2 percent in February from a year earlier, the European Union’s statistics agency in Luxembourg said Thursday. That matched the median estimate of 47 analysts surveyed by Bloomberg. The rate was 1.8 percent in January.

Rising oil prices have been pushing up inflation across the euro area, including in Germany, its largest economy, Spain and Italy.

Bloomberg

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.