Inflation In EU Rises To 1.5% But Unemployment Remains Steady At 7.8%

Inflation in the eurozone rose to 1.5% in February, down from 1.4% in January, while unemployment in the common currency remained stable at 7.8%, Eurostat said.

Temporary inflation is in line with analysts’ expectations, but the figure for unemployment is better than the consensus forecast of 7.9%.

The unemployment rate of 7.8% in January and December is at the lowest level recorded in the 19 eurozone countries since October 2008.

Meanwhile, the 28-member European Union registered unemployment from 6.5% in January, from 6.6% in December 2018 and from 7.2% in January 2018.

The Czech Republic recorded the lowest rate of 2.1% in January this year, followed by Germany by 3.2%.

Spain recorded the highest unemployment rate in January – 14.1% and Italy – 10.5%. Greece recorded the highest unemployment rate of 18.5% in November.

Compared to the previous year, the unemployment rate has fallen in all Member States, with the exception of Denmark and Malta, where it remains stable.

With regard to inflation, Eurostat said the highest annual rate was in the energy sector in February – 3.5%, compared with 2.7% in January.

Followed by food, alcohol and tobacco by 2.4%, compared to 1.8% in January. In services it amounted to 1.3%, compared to 1.6% in January, while for non-energy industrial goods it was 0.3%, stable compared to January.

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