Eurostat: Inflation in the Eurozone continues to weaken

Eurostat: Inflation in the Eurozone continues to weaken

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Inflation in the euro zone weakened more than expected in March. Consumer prices rose by 2.4 percent compared to the same month last year, according to an initial estimate from the Eurostat statistics office. Economists had expected an average rate of 2.5 percent.

It was the third consecutive decline in inflation. Inflation in the euro zone was 2.6 percent in February and 2.8 percent in January. Compared to the previous month, consumer prices rose by 0.8 percent in March. Economists had expected an increase of 0.9 percent.

The price development is thus moving closer to the target European Central Bank (ECB), which aims for an annual inflation rate of two percent in the medium term. In the fight against high inflation, the ECB raised interest rates sharply.

Inflation is understood to be constant Increase in price level
an economy. If the general price level rises, you get fewer goods and services per unit of money and the value of the currency falls. Inflation in the euro zone reached a record high of 10.7 percent in autumn 2022. A year ago inflation was 6.9 percent.

This article will continue to be updated.

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