Euro area annual HICP rises to 5.9% in February vs. 5.8% expected

• Euro area annual HICP rose to 5.9% in February.
• EUR/USD continues to fluctuate above 1.1000 after the data.

Annual inflation in the euro area, as measured by the Harmonised Index of Consumer Prices (HICP), rose to 5.9% in February, Eurostat announced on Thursday. This print came in higher than the flash estimate and the market expectation of 5.8%.

Further details of the publication revealed that the Core HICP, which excludes volatile food and energy prices, was 2.7% on a yearly basis in February as initially estimated. 

Market reaction

EUR/USD edged slightly lower after this data and was last seen trading flat on the day at 1.1033.