Euro area February CPI revised lower, estimate for 'core' prices unchanged
Eurostat revised its estimate for the rate of advance in consumer price inflation for February down from a preliminary reading of 1.2% year-on-year to 1.1%, versus a print of 1.3% for January.
However, at the 'core' level, that is excluding prices of energy, food, alcohol and tobacco, at 1.0% CPI was unchanged from the prior month's reading.
At 0.6% year-on-year, the closely-watched series of non-energy industrial goods prices was also unchanged.
Commenting on Friday's CPI figures, economists at Barclays Research said: "Current benign core trend is unlikely to change.
"The February print suggests that both core goods and services components will continue to improve only very gradually while also suggesting that downside risks have increased lately, albeit for different reasons."
In reaction to the data, as of 1213 GMT the yield on the benchmark 10-year German bund was flat at 0.57%, versus an intra-day low of 0.56%.