Eurozone inflation drops to 0.9 percent in Feb

Inflation in the 16 countries that use the euro fell in February, official figures showed Tuesday, in a further sign that price pressures remain subdued in the wake of the recession.

Eurostat, the EU's statistics office, said that eurozone prices are estimated to have risen by 0.9 percent in February from the year before. That rate is down from the 11-month high of 1 percent recorded in January.

The decline was unexpected — the consensus in the markets was for inflation to hold steady at 1 percent. No further details were provided, but more information will come when Eurostat publishes its full release on March 16.

For more: The Associated Press: Eurozone inflation drops to 0.9 percent in Feb