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Currently displaying information released on: March, 2024
EU AND EURO AREA CONSUMER PRICE INDEX, FEBRUARY 2024
Year-over-year (February 2024 vs February2023)
The inflation rate slowed to 2.8% in the European Union and to 2.6% in the Euro Area in February 2024.
The fastest inflation was reported in Romania (7.1%) while the slowest inflation rates were in Denmark and Latvia (both 0.6%).
Energy prices declined 3.2% in the European Union and declined 3.7% in the Euro Area in February 2024.
Food price inflation has continued to slow but remains elevated at 2.7% for the European Union and 3.1% in the Euro Area in February 2024.
Excluding the impacts of energy, food, alcohol and tobacco prices year-over-year inflation was slowed to 3.5% in the European Union and 3.1% in the Euro Area in February 2024.
Source: Eurostat; Eurostat Data US CONSUMER PRICE INDEX, FEBRUARY 2024
The United States Consumer Price Index (not seasonally adjusted) for All Urban Consumers increased 3.2% year-over-year in February 2024. Compared to February 2023, prices were higher in food (+2.2%), shelter (+5.7%) and Transportation (+9.9%), and lower in energy (-1.9%) and gasoline (-3.9%). Notable other indexes increases over February 2023 were reported for food away from home, (+4.5%), and electricity (+3.6%).
The month-over-month (seasonally adjusted) change in the CPI was +0.4% in February 2024, following +0.3% in January 2024. Over the past month shelter continued to rise (+0.4%). Shelter and gasoline accounted for over 60% of the monthly all-item CPI growth in February 2024. The food index was unchanged compared to the previous month. Energy prices increased 2.3% over January 2024 with increases in all subcomponents (gasoline, fuel oil, electricity and utility (piped) gas services).
The CPI excluding food and energy rose 3.8% compared to February 2023. The CPI excluding food and energy index was up 0.4% compared to January 2024.
Note: Canada and Nova Scotia February 2024 CPI figures will be released on March 19, 2024.
Sources:
Statistics Canada. Table 18-10-0004-01 Consumer Price Index, monthly, not seasonally adjusted
US Bureau of Labor Statistics, retrieved from Federal Reserve Bank of St. Louis using the FRED API.
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