What was the annual inflation rate in the Eurozone?

The European Statistical Office (Eurostat) has announced preliminary inflation data for the Eurozone for April.

According to the data, annual inflation in the Eurozone, which was 2.4 percent in March, remained at the same level in April. The CPI showed a monthly increase of 0.6 percent in April.

FASTEST INCREASE WAS IN SERVICES

Market expectations were also for annual inflation in the Eurozone to be 2.4 percent in April.

Looking at the main components of inflation, the highest annual price increase occurred in services at 3.7 percent. The services sector was followed by food, alcohol, and tobacco products at 2.8 percent, and non-energy industrial goods at 0.9 percent, while energy product prices declined by 0.6 percent.

Core inflation in the Eurozone was measured at 2.7 percent annually and 0.7 percent monthly in April.

According to EU-harmonized data, inflation in April was determined to be 2.4 percent in Germany and France, 1 percent in Italy, and 3.4 percent in Spain.

News Source: 12punto