Inflation in the euro area was slightly cooler than previously thought in February, according to the final reading of prices by Eurostat.

Year-on-year inflation dipped to 1.1 per cent, from 1.3 per cent in January. An earlier estimate had put the rate at 1.2 per cent. In the same month last year, the rate was 2 per cent - a nose above the European Central Bank’s target.

Frederik Ducrozet at Pictet pointed out that the revision is down to tiny increments and based on weaker core goods inflation. It is nonetheless also true that a number of euro zone economies, the Republic excepted, have posted a run of slightly shaky economic data since the start of this year.

– Copyright The Financial Times Limited 2018