In the Eurozone, the annual inflation rate dropped to 2.4 percent in February. The European Statistics Office (Eurostat) released the preliminary inflation data for the Eurozone in February. Accordingly, the upward trend in the Consumer Price Index (CPI) in January, which was 2.5 percent, decreased to 2.4 percent in February. The CPI increased by 0.5 percent on a monthly basis in February. The market expectation was for the annual inflation to be 2.3 percent in February. In February, the core inflation in the Eurozone stood at 2.6 percent on an annual basis. When looking at the main components of inflation, the highest price increase was seen in the service sector at 3.7 percent. This was followed by food, alcohol, and tobacco products at 2.7 percent, non-energy industrial products at 0.6 percent, and energy products at 0.2 percent. In February, inflation was 5 percent in Estonia, 4.7 percent in Croatia, 4.4 percent in Belgium, and 4 percent in Slovakia. Annual inflation stood at 2.9 percent in Spain, 2.8 percent in Germany, 1.7 percent in Italy, and 0.9 percent in France. On the other hand, the European Central Bank (ECB) aims for inflation to be 2 percent in the medium term.