Estimates from the statistical office of the European Union revealed that food, alcohol and tobacco products are projected to reach an annual inflation rate of 1.4 percent, the highest among all categories in February, followed by services at 1.2 percent.
Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in February (1.4 percent, compared with 1.5 percent in January), followed by services (1.2 percent, compared with 1.4 percent in January), non-energy industrial goods (1.0 percent, compared with 1.5 percent in January) and energy (-1.7 percent, compared with -4.2 percent in January).
Among the euro area countries, the highest projected inflation rate of 1.9 percent in January was expected in the Netherlands last month. The next release with full data for February 2021 is scheduled for 17 March 2021.