Eurozone inflation rises to 7% in April
Economy
Tue, 2 May 2023 10:31 GMT
The eurozone annual consumer inflation rate rose to 7% in April due to a rise in energy costs, meeting the market forecast, according to flash estimates released on Tuesday.
The eurozone annual consumer inflation rate rose to 7% in April due to a rise in energy costs, meeting the market forecast, according to flash estimates released on Tuesday.
The figure accelerated from a 13-month low of 6.9% in March, following four consecutive months of decline.
Energy prices increased 2.5% year-on-year in April, after decreasing 0.9% in March.
Food, alcohol, and tobacco prices are expected to have the highest annual rate in April with 13.6%, easing from 15.5% in March.
On a monthly basis, the euro area consumer prices index climbed 0.7% in April.
The cost of energy in the single currency zone is estimated to have dropped 0.8% month-on-month.
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