According to Eurostat, the Statistical Office of the European communities, annual EU inflation remained unchanged from January’s figure of 2.1%. The current rate of inflation is close to the European Central Banks desired level of 2%. The current inflation rate for the euro zone is at 1.8%, which is in line with the ECB’s inflation target. The stability of the current inflation rate since the beginning of 2007 has come as a surprise; strong economic growth and the increase of German VAT in January had caused many to predict an increase away from the desired level of inflation.
Source: Eurostat
