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Flash estimate: Eurozone annual inflation down to 0.5%

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imagesEurozone annual inflation is expected to be 0.5% in March 2014, down from 0.7% in February, according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of eurozone inflation, services is expected to have the highest annual rate in March (1.1%, compared with 1.3% in February), followed by food, alcohol & tobacco (1.0%, compared with 1.5% in February), non-energy industrial goods (0.3%, compared with 0.4% in February) and energy (-2.1%, compared with -2.3% in February).

Eurozone annual inflation and its components, %

Weight (‰)

2014

Mar 2013

Oct 2013

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Nov 2013

Dec 2013

Jan 2014

Feb 2014

Mar 2014
All-items HICP

1000.0

1.7

0.7

0.9

0.8

0.8

0.7p

0.5e

Food, alcohol & tobacco

197.6

2.7

1.9

1.6

1.8

1.7

1.5p

1.0e

Energy

108.1

1.7

-1.7

-1.1

0.0

-1.2

-2.3p

-2.1e

Non-energy industrial goods

266.6

1.0

0.3

0.2

0.3

0.2

0.4p

0.3e

Services

427.8

1.8

1.2

1.4

1.0

1.2

1.3p

1.1e

All-items excluding:

energy, food, alcohol & tobacco

694.4

1.5

0.8

0.9

0.7

0.8

1.0p

0.8e

energy

891.9

1.8

1.0

1.1

1.0

1.0

1.1p

0.8e

e = estimate                  p = provisional

The eurozone consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland. Annual inflation is the change of the price level between the current month and the same month of the previous year. For further information on the euro area inflation flash estimate, see the Statistics Explained article on the Eurostat website.

The eurozone inflation flash estimate is issued at the end of each reference month. The complete set of harmonized indices of consumer prices (HICP) for the eurozone, EU and member states is released around the middle of the month following the reference month. The next release with full data for March 2014 is scheduled for 16 April 2014.

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