In April, euro area inflation stagnated at a record high of the previous month

Euro area inflation stagnates in April

A year earlier, in April 2021, the rate was 1.6 percent. According to preliminary estimates, inflation in the euro area was expected to reach 7.5 percent in April.

Inflation is already more than three times the ECB’s 2 percent target and is not expected to return to that level any time soon. According to the European Commission, inflation will be 6.1 percent in 2022 and then fall to 2.7 percent in 2023. (MTI)