Inflation in the Eurozone Rises by 7.5% in April

The European Union’s statistical office Eurostat reported that the consumer price index (CPI) for the eurozone rose to 7.5% in April 2022, the highest level since Eurostat was established. The data was compiled from 7.4% in March.

This is in line with analysts’ forecasts, which predicted an increase of 7.5%. Month-on-month, the consumer price index rose by 0.6% in April.

Sanctions and avoidance against Russian energy products are said to be the main factor behind the year-on-year increase in energy prices. Energy prices rose by 38.0% in April, compared with 44.4% in March, indicating a slowdown.

The core consumer price index excluding food and energy rose to 3.5% year-on-year in April from 2.9% in March, above expectations of 3.2%.

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