Financial News: Eurozone Inflation Slows To 2.4% As Estimated

Eurozone Inflation Slows To 2.4% As Estimated

04/17/2024 - 06:14:00 (RTTNews)

(RTTNews) - Eurozone inflation softened in March, as initially estimated, largely due to slowing food price growth, final data from Eurostat showed on Wednesday.

The harmonized index of consumer prices registered an increase of 2.4 percent annually, slower than the 2.6 percent rise in February.

Likewise, core inflation that excludes prices of food and energy eased to 2.9 percent in March from 3.1 percent in the previous month.

Both overall and core inflation rates came in line with the estimate published on April 3.

According to the Survey of Professional Forecasters, released by the European Central Bank, headline inflation will fall to 2.0 percent in both 2025 and 2026 from 2.4 percent in 2024.

Among components, cost of food, alcohol and tobacco rose at a slower pace of 2.6 percent after climbing 3.9 percent, Eurostat said. At the same time, the decline in energy prices slowed to 1.8 percent from 3.7 percent.

Non-energy industrial goods prices climbed 1.1 percent, weaker than the 1.6 percent rise in February. Services cost inflation held steady at 4.0 percent.

On a monthly basis, the harmonized index of consumer prices posted at 0.8 percent rise.

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