FX.co ★ Eurozone Inflation Slows To 2.4%

Inflation within the Eurozone moderately decreased in March, according to preliminary estimates provided by Eurostat on Wednesday.

The harmonized index of consumer prices (HICP) noted an annual increase of 2.4 percent, a drop compared to the 2.6 percent increase seen in February. The prediction was a rise of 2.5 percent. Similarly, core inflation, which excludes volatile components like food and energy, declined to 2.9 percent in March from 3.1 percent the previous month.

Breaking down the main components, the service sector recorded the highest annual rate in March, with growth at 4.0 percent. Food, alcohol and tobacco prices rose by 2.7 percent, while prices for non-energy industrial goods increased by 1.1 percent. Contrarily, energy prices saw a decrease of 1.8 percent.

In terms of monthly changes, the HICP increased by 0.8 percent in March.