Annual inflation in the Eurozone rose to 3 percent in April due to the increase in energy prices.
The European Statistical Office (Eurostat) announced the leading inflation data of the Eurozone for April.
Accordingly, annual inflation in the Eurozone, which was 2.6 percent in March, rose to 3 percent in April. Inflation was 1 percent on a monthly basis in April.
Market expectation was that inflation would be 3 percent on an annual basis in April.
In the Eurozone, core inflation in April was determined as 2.2 percent on an annual basis and 0.9 percent on a monthly basis.
When we look at the main components of inflation in the Eurozone in April, the highest annual price increase was in energy products with 10.9 percent. This was followed by services with 3 percent, food, alcohol and tobacco products with 2.5 percent, and non-energy industrial products with 0.8 percent.
Inflation was measured at 2.9 percent in Germany, 2.5 in France, 2.9 in Italy and 3.5 percent in Spain in April compared to the same month last year.
On the other hand, the European Central Bank’s (ECB) Eurozone inflation target is 2 percent.
