Eurozone inflation reaches 7% in April

by time news

2023-05-07 09:00:36

The rate of inflation YoY of to the euro zone it accelerated one tenth in April compared to the previous month, thus reaching 7%, compared to 6.9% in March, putting pressure on the European Central Bank (ECB), which will meet to continue raising interest rates.

According to preliminary data published by Eurostatin the month of April energy registered a year-on-year rise of 2.5%, after the drop of 0.9% in the previous month, while the price of food eased its rise to 10% from 14.7% .

In the case of services, prices rose 5.2% year-on-year in April, one tenth more than in March, but non-energy industrial goods became more expensive by 6.2%, four tenths less than in March.

Thus, by excluding the impact of energy from the calculation, the interannual rate of inflation in April stood at 7.5%, compared to 7.9% the previous month, while also leaving out the impact of price For food, alcohol and tobacco, the core inflation rate moderated to 5.6% from 5.7% the previous month.

Among the countries for which data were available, the least intense price increases were observed in Luxembourg (2.7%), followed by Belgium (3.3%) and Spain and Cyprus (both 3.8%).

By contrast, the most pronounced price increases were registered in Latvia (15%), ahead of Slovakia (14%), as well as Lithuania (13.35) and Estonia (13.2%).

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