Inflation in the eurozone accelerated to 7% in April

According to the Statistical Office of the European Union, consumer prices in the eurozone rose by 7% in annual terms in April. Inflation accelerated from 6.9% in March, which coincided with the consensus forecast of analysts.

The CPI Core index (core inflation excluding food and energy) slowed to 5.6% in annual terms. In March, the indicator was recorded at 5.7%.

Experts note that the acceleration of overall inflation is observed for the first time after five months of decline, and the slowdown of the base – for the first time in 10 months. 

Energy carriers in April rose by 2.5% after a 0.9% decrease in cost in March. The growth of prices for services accelerated from 5.1% to 5.2%. At the same time, the growth of prices for food, alcohol and tobacco products slowed from 15.5% to 13.6%, for industrial goods – from 6.6% to 6.2%.

On a monthly basis, the inflation rate increased by 0.7% compared to March: then the indicator increased by 0.9%.