Financial News: Eurozone Inflation Steady At 2.4%

Eurozone Inflation Steady At 2.4%

04/30/2024 - 05:57:00 (RTTNews)

(RTTNews) - Eurozone consumer prices registered a steady growth in April, flash estimates published by Eurostat showed on Tuesday.

The harmonized index of consumer prices grew 2.4 percent on a yearly basis, the same rate as seen in March and matched economists' expectations. Core inflation that excludes prices of energy, food, alcohol and tobacco softened to 2.7 percent from 2.9 percent. However, the core rate was slightly above the expected 2.6 percent.

Month-on-month, the HICP grew 0.6 percent and core consumer prices rose 0.7 percent in April.

Data showed that food, alcohol and tobacco prices rose at a faster pace of 2.8 percent, following a 2.6 percent rise and the annual decline in energy prices slowed to 0.6 percent from 1.8 percent.

Non-energy industrial goods prices grew 0.9 percent after rising 1.1 percent. Likewise, services cost climbed at a slower rate of 3.7 percent following March's 4.0 percent increase.

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