Home Latest News & Insights EUROZONE INFLATION RISES TO 7% IN APRIL

EUROZONE INFLATION RISES TO 7% IN APRIL

May 9, 2023
price stability

Eurozone inflation rises to 7.0% in April 2023, a slight increase from 6.9% in March, according to a flash estimate from Eurostat.

The rise in inflation was largely driven by the food, alcohol and tobacco sector. The sector saw an annual rate of 13.6%, down from 15.5% in March.

Non-energy industrial goods had an annual rate of 6.2%, services had an annual rate of 5.2%. Energy had an annual rate of 2.5%, a significant increase from -0.9% in March.

The report is likely to add to concerns about rising inflation in the euro area. It may prompt the European Central Bank to consider tightening its monetary policy.