European Economic News

Eurozone April Inflation Slows As Estimated

Eurozone annual inflation for April was confirmed at 2.6 percent, down from 2.7 percent in March, final data from Eurostat showed Wednesday.

Nonetheless, inflation continues to stay above the European Central Bank's 'below, but close to 2 percent' target. Monthly inflation was 0.5 percent in April.

The European Commission expects Eurozone inflation to slow to 2.4 percent this year from 2.7 percent in 2011. For 2013, inflation is seen at 1.8 percent.

Excluding energy, food, alcohol and tobacco, core inflation remained stable at 1.6 percent in April. Economists were expecting the rate to ease to 1.5 percent.

EU annual inflation also slowed in April to 2.7 percent from 2.9 percent a month ago.

by RTTNews Staff Writer

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