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The rate had fallen significantly in March: from 8.5 percent in February to 6.9 percent. Experts had expected a unchanged rate for April.
Contrary to general inflation, core inflation decreased slightly in April. For consumer prices excluding variable energy and food prices, Eurostat reported an annual increase of 5.6 percent. Core inflation was 5.7 percent in March, the highest level the currency zone has ever existed. According to economists, it gives a good impression of the underlying inflation trend.
Supporting the overall inflation rate is energy prices, which rose 2.5 percent year-on-year after falling in March. General inflation is now driven by significantly increased prices for food and beverages, as well as services and industrial goods.
The 2 percent price target of the European Central Bank in the medium term will be clearly exceeded. The central bank prepares itself for inflation with high interest rates. Another rate hike is expected at the next ECB rate meeting on Thursday.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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