Eurozone inflation in February fell sharply to negative 0.2 percent, data showed on Monday, in the clearest sign yet that the several rounds of stimulus measures by the European Central Bank are not working.

The figure is a huge drop from the revised positive 0.3 percent in January, and heaps ever more pressure on the ECB to come up with new ways to revive the European economy and boost inflation.

The data from the EU's Eurostat statistics agency came in well below analysts' forecast of zero percent inflation for the period, which is already much lower than the ECB's official two-percent target.