Eurozone Inflation Declines to 2.2% in March
Preliminary data shows a slight decrease in inflation rates, with energy prices experiencing a significant decline.
The annual inflation rate in the Eurozone has been recorded at 2.2% for March, a decrease of one-tenth from February's figure of 2.3%.
This marks the lowest price increase since November of the previous year, according to preliminary estimates released by Eurostat.
In March, energy prices experienced a year-on-year decline of 0.7%, contrasting with a rise of 0.2% the previous month.
Meanwhile, the cost of fresh food increased by 4.1% compared to an annual increase of 3% in February.
Non-energy industrial goods saw an annual increase of 0.6%, remaining consistent with the previous month.
Services, however, registered a more moderate increase in their costs, rising by 3.4%, down from 3.7% in February, marking the lowest rise since June 2022.
Excluding the impact of energy, the annual inflation rate for the Eurozone in March was 2.5%, a one-tenth decrease from February's rate.
The underlying inflation rate, which excludes energy prices and also omits fresh food, alcohol, and tobacco, moderated to 2.4% from 2.6% in the prior month.
Among the Eurozone countries, the lowest annual inflation rates were reported in France (0.9%), Luxembourg (1.5%), and Ireland (1.8%).
Conversely, the highest inflation rates were observed in Estonia, Croatia, and Slovakia, each recording a rate of 4.3%.
In Spain, the harmonized inflation rate for March decreased to 2.2%, down from 2.9% year-on-year, matching the average price increase in the Eurozone.
This marks the lowest price increase since November of the previous year, according to preliminary estimates released by Eurostat.
In March, energy prices experienced a year-on-year decline of 0.7%, contrasting with a rise of 0.2% the previous month.
Meanwhile, the cost of fresh food increased by 4.1% compared to an annual increase of 3% in February.
Non-energy industrial goods saw an annual increase of 0.6%, remaining consistent with the previous month.
Services, however, registered a more moderate increase in their costs, rising by 3.4%, down from 3.7% in February, marking the lowest rise since June 2022.
Excluding the impact of energy, the annual inflation rate for the Eurozone in March was 2.5%, a one-tenth decrease from February's rate.
The underlying inflation rate, which excludes energy prices and also omits fresh food, alcohol, and tobacco, moderated to 2.4% from 2.6% in the prior month.
Among the Eurozone countries, the lowest annual inflation rates were reported in France (0.9%), Luxembourg (1.5%), and Ireland (1.8%).
Conversely, the highest inflation rates were observed in Estonia, Croatia, and Slovakia, each recording a rate of 4.3%.
In Spain, the harmonized inflation rate for March decreased to 2.2%, down from 2.9% year-on-year, matching the average price increase in the Eurozone.
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