(CIANEWS) - The year-on-year inflation rate in the European Union dropped from 10.0% in January to 9.9% in February 2023. It was 6.2% in February 2022. According to data published by Eurostat, the lowest increase in prices was recorded in Luxembourg (4.8%), Belgium (5.4%) and Spain (6.0%). The Czech Republic ranks among countries with the highest price pace: with 18.4%, it finished third behind Latvia (20.1%) and Hungary (25.8%). Compared to January, inflation dropped in 15 member states, remained stable in two and increased in ten. In the eurozone, inflation decreased from 8.6% to 8.5%. It was affected mainly by the prices of food, alcohol and tobacco products (up 3.10 pp), services (up 2.02 pp), non-energy industrial goods (up 1.74 pp) and energy (1.64 pp).