Inflation remains stable in February

Latest reading: Consumer prices increased 2.4% in annual terms in February, stable from the prior month's reading. Inflation thus remained in the lower half of the Central Bank’s 1.5–4.5% target band. February's reading was the weakest since March 2021. Relative to the previous month's data, there were higher price pressures for food and non-alcoholic beverages (-0.7% in annual terms vs -1.0% in January), transportation (-0.2% vs -0.4% in January) and housing and utilities (+9.1% vs +8.5% in January). In contrast, there were reduced price pressures for restaurants and hotels (+7.2% vs +8.2% in January) and clothing and footwear (+1.4% vs +1.9% in January). Meanwhile, core consumer prices increased 4.2% on a year-on-year basis in February, following a 4.1% rise in the previous month. Lastly, consumer prices rose 0.50% in February in month-on-month terms, following a 0.30% increase in the prior month.

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