Producer prices rise in the euro zone in February
The European Union statistics office Eurostit said today that producer prices in 19 euro zone member states rose 0.5% in February, and year-on-year, euro zone producer prices rose 1.5% in the 12 months to February.
The European Central Bank expected inflation to rise, warning that inflation could exceed its target by the end of the year but promised to surpass what it expects will be a temporary hike in its monetary policy decisions.
The core producer price index, which excludes volatile energy, rose 1.2% in February versus 0.7% in January, and year on year, energy costs rose 2.3% in the 12 months to February.