Inflation rate holds at 0.8 percent in eurozone

Feb. 28, 2014 at 8:37 AM

BRUSSELS, Feb. 28 (UPI) -- The eurozone's annual inflation rate held at 0.8 percent this month, Eurostat, the European Commission's data agency, said Friday.

Inflation came in unchanged from January in what is termed a flash estimate that could be revised in the next data release..

Low inflation, a sign of a stagnant economy, has caused widespread concern in Europe. The European Central Bank's target for a healthy inflation rate is 2 percent.

Eurostat said food, alcohol and tobacco prices in February rose at a 1.5 percent annual rate while energy prices were down 2.2 percent.

Non-energy industrial goods prices were up 0.6 percent and prices of services were rising at an annual rate of 1.3 percent.

Core prices, which exclude data for foods and energy, were up 1 percent, Eurostat said.

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