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Financial News: Eurozone Inflation Slows Slightly In April

Eurozone Inflation Slows Slightly In April

05/03/2018 - 05:21:00 (RTTNews)

(RTTNews) - Eurozone inflation eased slightly in April on slower increase in services cost, Eurostat reported Thursday.

Inflation eased to 1.2 percent in April from 1.3 percent in March. The rate was expected to remain unchanged at 1.3 percent.

Core inflation that excludes energy, food, alcohol and tobacco, slowed more-than-expected to 0.7 percent from 1 percent in March. Economists had forecast a rate of 0.9 percent for April.

Cost of food, alcohol and tobacco, increased to 2.5 percent from 2.1 percent. Likewise, energy prices grew at a faster pace of 2.5 percent after rising 2 percent.

Non-energy industrial goods prices gained 0.3 percent, following a 0.2 percent rise a month ago. Meanwhile, cost of services gained at a slower pace of 1 percent after posting a 1.5 percent rise in March.

Another report from Eurostat showed that producer price inflation increased to 2.1 percent in March from 1.6 percent in February.

Excluding energy, producer price growth eased to 1.4 percent from 1.6 percent in February.

On a monthly basis, producer prices edged up 0.1 percent versus flat growth in the prior month.

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