2023-05-02 10:05:00
Inflation in the euro zone rebounded slightly in April following falling for five straight months as food prices remained high. That makes the ECB’s task of bringing down stubborn inflation ahead of its meeting this week more difficult.
Inflation in the euro zone rebounded slightly in April following falling for five straight months as food prices remained high. That makes the ECB’s task of bringing down stubborn inflation ahead of its meeting this week more difficult.
Preliminary data from Eurostat showed on Tuesday that the consumer price index (CPI) rose 7.0% year-on-year in April, up from a 6.9% rise in March and matching the average of economists surveyed by The Wall Street Journal. It was unchanged from the forecast 7.0% gain.
While headline inflation rose, core inflation excluding volatile food and energy categories edged down to 5.6 percent in April from 5.7 percent in March, in line with the average forecast. High core inflation is one of the main concerns of ECB policymakers.
The ECB is trying to strike a balance between containing inflation (well above the central bank’s 2 percent target) and the impact of higher interest rates on the economy. Economists widely expect the ECB to raise its key interest rate on Thursday from the current 3.0 percent.
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Inflation in the euro zone rebounded slightly in April following falling for five straight months as food prices remained high. That makes the ECB’s task of bringing down stubborn inflation ahead of its meeting this week more difficult.
Preliminary data from Eurostat showed on Tuesday that the consumer price index (CPI) rose 7.0% year-on-year in April, up from a 6.9% rise in March and matching the average of economists surveyed by The Wall Street Journal. It was unchanged from the forecast 7.0% gain.
While headline inflation rose, core inflation excluding volatile food and energy categories edged down to 5.6 percent in April from 5.7 percent in March, in line with the average forecast. High core inflation is one of the main concerns of ECB policymakers.
The ECB is trying to strike a balance between containing inflation (well above the central bank’s 2 percent target) and the impact of higher interest rates on the economy. Economists widely expect the ECB to raise its key interest rate on Thursday from the current 3.0 percent.
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