Eurozone inflation overshoots ECB target to hit 2% in February

ECB's target was slightly below 2%

Inflation in the eurozone has risen above the European Central Bank's (ECB) target to reach 2% in February, its highest level since January 2013.

Data from Eurostat showed inflation had climbed from 1.8% in January, to hit a level above the ECB's target, which was below but close to 2%. According to the BBC, the increase in inflation was largely due to rising energy prices, and analysts  are not expecting the ECB to alter its current quantitative easing programme (QE) in response to the latest numbers.  Although inflation has now overshot its target, analysts have pointed out core inflation, which strips out the impact of energy and food prices, stands unchanged at just 0.9%.  In December, ECB President Mario Draghi said he ...