Eurozone inflation at 2.4% in February: between disinflation and resistance

The figure has made the markets tremble: inflation in the eurozone stood at 2.4% in February, according to Eurostat. A slight decrease, certainly

The euro zone consumer prices rose more than expected in February and the annual inflation rate remained unchanged at 2.4 percent, according to Eurostat's preliminary estimates. Economists polled by Reuters had expected a slight decrease in inflation to 2.3 percent from 2.5 percent in January, and a rise in the core inflation rate to 2.5 percent.

Instead, the core inflation rate, which excludes the more volatile energy and food components, fell to 2.6 percent from 2.6 percent in January. The reading was in line with economists' expectations.

The European Central Bank's (ECB) preferred core inflation indicator, which excludes energy, food, alcohol and tobacco products, came in at 2.6 percent, also preliminary, compared to 2.0 percent in January and the 2.2 percent expected by economists.

The figures showed that price increases in services slowed to 3.7 percent from 4.4 percent, while energy prices rose 0.2 percent after a 0.1 percent decrease in January.

The food, alcohol and tobacco category had a 2.1 percent annual inflation rate in February, the same as in January.

Separate data from Germany showed that consumer prices in Europe's largest economy rose by 2.8 percent year-over-year in February, slowing from a 2.9 percent increase the previous month. The reading was in line with economists' expectations.

Consumer prices in France rose by 0.9 percent year-over-year in February, lower than the 1.1 percent estimate and December's reading.