The eurozone's inflation rate has been slowing steadily since its peak in October 2022, approaching the ECB's two-percent target. "February's eurozone inflation data look like the final nail in the coffin for an April interest rate cut," said Jack Allen-Reynolds of Capital Economics, an economic research firm. The EU last month cuts its eurozone inflation forecast for 2024 to 2.7 percent from 3.2 percent in earlier prediction. Eurozone inflation. Across the European Union, Latvia registered the lowest inflation rate in February, at 0.7 percent, according to Eurostat.
