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Inflation in the eurozone accelerated to 7% in April


May, 02 2023
watermark Economic news

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%.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.