The main drivers of inflation were once once more the sharp rise in energy prices, which rose sharply as a result of the Ukraine war.
The massive rise in energy prices as a result of the Ukraine war pushed inflation in the euro area to a new record high. Goods and services rose in April by an average of 7.5 percent over the year, according to the statistics office Eurostat announced in a first estimate on Friday. Experts had expected this increase.
Inflation was 7.4 percent in March and 5.9 percent in February. The inflation rate is thus far above the target European Central Bank (ECB) which targets 2.0 percent inflation as the ideal value for the economy.
The main drivers of inflation were once once more the sharp rise in energy prices, which rose sharply as a result of the Ukraine war. Over the year, they climbed 38 percent. In March it was even 44.4 percent. Unprocessed foods rose 9.2 percent. The prices for services rose by 3.3 percent.
(APA)