Eurozone Inflation Moderates to 2.4% in February, Reinforcing Expectations for ECB Rate Cut

Eurozone inflation slowed to 2.4% in February, according to Eurostat data, slightly above the anticipated 2.3%. This figure marks a decrease from January's 2.5%. The core inflation rate, excluding volatile food and fuel, also decreased to 2.6%. The European Central Bank (ECB) is widely expected to announce another interest rate cut, potentially the sixth since June, at its upcoming meeting. Market observers will analyze the ECB's statement for insights into its inflation assessment and monetary policy direction. While overall inflation is moderating, unprocessed food prices saw a notable increase, more than doubling to 3.1%. Services inflation also eased to 3.7% from 3.9% last month.