Last Updated: February 15, 2023, 10:46 IST
The European Central Bank displayed their poetic skills on February 14 as they tweeted Valentines Day wishes.
The central bank tweeted, “Roses are red Violets are blue We will stay the course And return inflation to 2″
Inflation in the euro zone dropped for a third consecutive month in January on the back of a significant fall in energy costs.
Headline inflation in the euro zone came in at 8.5% in January, according to preliminary data released Wednesday. In December, the rate was recorded at 9.2%.
The 20-member region has gone through substantial price increases in 2022, after Russia’s invasion of Ukraine pushed up energy and food costs across the bloc. However, the latest data provides further evidence that inflation has started to ease.
Core inflation, which strips out energy and food costs, stood at 5.2% in December — in line with the previous month.
Higher inflation has led the ECB to raise rates four times in 2022, and market expectations point to at another increase in the coming meeting.
The ECB has set it’s inflation target at 2 per cent at which it expects the economy to fully reap the benefits of price stability.
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