The Strategist

Annual inflation in Eurozone accelerates to seven percent

05/03/2023 - 09:59

The rate of inflation in the euro area for the entire year accelerated in April, rising to 7% from 6.9%, according to statistics from Eurostat.

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Public Domain Pictures
The index matched forecasts of analysts polled by DailyFX.

The euro zone's inflation rate was 7.4% a year ago.

Preliminary figures show that consumer prices increased by 0.7% in the euro area in April.

The core annual inflation rate also decreased from 5.7% to 5.6% at the same period. Analysts anticipated that the index would hold steady at its March level.

In April, Latvia (15%), Slovakia (14%) and Lithuania (13.3%) recorded the highest annual inflation rates, while Luxemburg (2.7%), Belgium (3.3%) and Spain (3.8%) recorded the lowest.