Inflation in the Eurozone rose 6.9% in March compared to last year, down from 8.5% reported in February.
The
increase in consumer prices was lower than expected thanks to a drop in
energy prices. Core inflation, which excludes food and energy prices,
rose to a new high of 5.7% in March, up from 5.6% reported in February.
- Analysts
expect the European Central Bank to continue increasing rates in the
near term as it seeks to bring down inflation to its 2% target.
- Food prices rose 15.4% in March, compared to last year, and up from 15% reported in the prior month.
- Service prices rose 5%, up from 4.8% reported the prior month.
- Energy prices fell 0.9% in March, down from an increase of 13.7% reported in February.
- Economists expect energy prices to continue falling compared to last year.
