The euro zone’s annual consumer inflation rate (CPI) hit an all-time high of 7.4% in March, surpassing the previous record of 5.9% in February, according to final data released on Thursday. on the 21st, by the European Union’s statistics agency, Eurostat.
The March result, however, was slightly below the preliminary reading and the expectations of analysts consulted by the The Wall Street Journalof 7.5% in both cases.
The record CPI, which came amid the impacts of the war between Russia and Ukraine, intensifies pressure for the European Central Bank (ECB) to tighten its monetary policy. The ECB’s inflation target is 2%.
Compared to February, the euro zone’s CPI rose 2.4% in March. In this case, the market consensus was for a 2.5% increase.
Only the bloc’s core CPI, which disregards energy and food prices, saw a 2.9% annual gain in March, slightly lower than the previous estimate of 3%.
In comparison with February, the core index increased by 1.2% in the last month.
Source: CNN Brasil
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