FRANKFURT (Reuters) – Eurozone consumer price growth slowed significantly in March but core inflation remained elevated, final figures released by Eurostat on Wednesday showed.
The consumer price index in the 20 countries sharing the euro decelerated to 6.9% year on year last month, a figure in line with the “flash” estimate and the Reuters consensus.
This slowdown is mainly related to a rapid decline in energy costs after they soared a year ago during Russia’s invasion of Ukraine.
On a month, prices rose 0.9%, a figure also in line with the first estimate and the Reuters consensus.
Excluding food and energy, the index shows a slowdown of 7.5% over one year, in accordance with the flash estimate. On a monthly basis, however, it accelerated to 1.2% against an estimate of +0.9% and a consensus of +1.1%.
An even narrower measure, which also excludes alcohol and tobacco, shows an increase of 5.7% after +5.6% in February and an estimate of 5.7%.
(Report Balazs Koranyi; Claude Chendjou, edited by Blandine Hénault)
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