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Eurozone Inflation Accelerates; Jobless Rate Steady

Eurozone inflation accelerated in February, while core price growth eased, and the unemployment rate held steady in January, data from Eurostat showed on Friday.

The flash harmonized inflation for February was 1.5 percent, which was higher than January's 1.4 percent. The latest rate was in line with economists' expectations.

Meanwhile, the core inflation rate that excludes energy, food, alcohol and tobacco, slowed to 1 percent in February from 1.1 percent in January. Economists had expected the rate to remain unchanged.

Energy price inflation accelerated to 3.5 percent in February, from 2.7 percent in January, marking the highest annual rate among the main components.

Prices in the food, alcohol and tobacco group rose 2.4 percent year-on-year after a 1.8 percent climb in January. Services costs grew 1.3 percent following 1.6 percent rise in January.

Eurostat is set to release the full data for February inflation on March 15.

Separately, the agency reported that the euro area unemployment data was steady at 7.8 percent in January after December's figure was revised down from 7.9 percent.

Economists had expected the rate to remain unchanged at December's original 7.9 percent.

The latest jobless rate was the lowest rate recorded in the euro area since October 2008, Eurostat said.

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