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Inflation as per the harmonized index of consumer prices (HICP) dropped to 1.8 percent in February from 1.9 percent in January, preliminary data from the Federal Statistical Office showed. Economists had forecast a faster deceleration to 1.7 percent.
On a monthly basis, the HICP increased 0.8 percent in January, faster than the 0.7 percent gain economists had forecast.
At the same time, the consumer price index increased 1.5 percent year-on-year in February, after rising 1.7 percent in January. Economists had forecast the inflation rate to remain unchanged.
Compared to January, the consumer price index moved up 0.6 percent in February, while economists were looking for a 0.7 percent gain, data showed.
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