Eurozone inflation fell by two-tenths in March, to 2.4%, the same decline seen in the European Union as a whole, which ended the month at 2.6%, according to the European Union's statistical office (Eurostat).
The Department of Statistics thus confirms its preliminary calculations of the euro area's annual inflation rate last month, in which the core index – which excludes energy, food and tobacco and is the reference for the European Central Bank – fell by two. tenths to 2.9%.
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Thus, the eurozone has seen declines in the three-month average inflation rate since seeing a five-tenths rise in December 2023, rising to 2.9%, according to Efe.
This downward trend confirms that Eurozone inflation is approaching the 2% target sought by the European Central Bank with its restrictive monetary policy and is approaching the first interest rate cut, which the market is already placing with high probability at the June meeting. Currently, the bank, headed by Frenchwoman Christine Lagarde, is maintaining the money rate at 4.50%, the highest level since 2001.
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