In March, inflation in the Eurozone eased on an annual basis

By: Trademagazin Date: 2023. 03. 31. 11:58

Inflation in the euro area decreased to a greater extent than expected on an annual basis in March, moving further away from the record level in October, the statistical office of the European Union announced on Friday.

According to Eurostat’s preliminary data, inflation in the euro area fell to 6.9 percent in March from 8.5 percent in February, after it was at a record level of 10.6 percent in October. The average of analysts’ expectations was 7.1 percent for March.
In the euro area, consumer prices increased by 0.9 percent in March compared to February, when a smaller increase of 0.8 percent was recorded.

The biggest contribution to the increase in the annual price index was the increase in the price of food, alcoholic beverages and tobacco products: the increase was 15.4 percent after 15 percent in February.