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HomeLatest NewsInflation moderated in March to 2.4% in the Eurozone and gives the...

Inflation moderated in March to 2.4% in the Eurozone and gives the ECB room to lower rates

Date: July 23, 2024 Time: 02:25:08

The final inflation data for March in the Eurozone that Eurostat published this Wednesday gives oxygen to the European Central Bank (ECB) to be able to begin the expected reduction in interest rates starting in June. The annual inflation rate moderated in the region to 2.4% last month, its lowest level since November, thanks to falling energy and fresh food prices. Specifically, energy became cheaper by 1.8%, practically half of what it had done in February (-3.7%), while unprocessed products in the shopping basket reduced their price. averaged 0.5%, when they had risen 2.1% just a month before.

Once again, it was the prices of services that put the most upward pressure on the annual CPI rate in the euro area. They increased on average by 4%, at the same level they have been doing since last November. Behind them, the most inflationary items were processed foods, alcohol and tobacco, which became more expensive by 3.5%; as well as non-energy industrial goods, whose prices rose 1.1% last month compared to March 2023.

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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