FX.co ★ Eurozone Inflation Steady At 2.4% As Estimated

Inflation in the Eurozone remained steady in April, as initially projected, according to official data released on Friday.

Eurostat reported that the Harmonized Index of Consumer Prices (HICP) increased by 2.4 percent year-on-year, maintaining the same growth rate observed in March.

Meanwhile, core inflation, which excludes the volatile categories of energy, food, alcohol, and tobacco, softened to 2.7 percent, down from 2.9 percent.

On a monthly basis, the HICP rose by 0.6 percent, while core consumer prices saw a 0.7 percent increase in April.

Further data indicated that prices for food, alcohol, and tobacco accelerated, growing by 2.8 percent compared to a 2.6 percent rise previously. The annual decline in energy prices moderated to 0.6 percent from 1.8 percent.

Prices for non-energy industrial goods increased by 0.9 percent, following a 1.1 percent rise. Similarly, the cost of services grew at a slower pace of 3.7 percent, down from a 4.0 percent increase in March.