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Financial News: Eurozone Inflation Slows More Than Estimated

Eurozone Inflation Slows More Than Estimated

05/20/2020 - 05:13:00 (RTTNews)

(RTTNews) - Eurozone inflation slowed more than initially estimated in April to the lowest since 2016, final data from Eurostat showed Wednesday.

Inflation slowed to 0.3 percent from 0.7 percent in March. The rate was revised down from 0.4 percent estimated on April 30. This was the lowest since August 2016.

Headline inflation remained well below the European Central Bank's target of "below, but close to 2 percent."

Core inflation that excludes energy, food, alcohol and tobacco, slowed slightly to 0.9 percent from 1 percent in the previous month. The rate came in line with initial estimate.

On a monthly basis, the harmonized index of consumer prices gained 0.3 percent in April as estimated.

The annual fall in inflation was largely driven by a 9.7 percent decrease in energy prices. Meanwhile, prices of food, alcohol and tobacco rose at a faster pace of 3.6 percent.

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