Eurozone inflation rose 2.4% year-on-year in March 2024, slowing from 2.6% in February. As a result, Europe's inflation rate has declined for three consecutive months. This is evidenced by preliminary data from Eurostat.
Analysts surveyed by Trading Economics had expected eurozone inflation to rise by 2.6% in March.
At the same time, monthly core inflation, which excludes energy and food costs, slowed to 2.9% in March. Energy prices fell by 1.8% compared to his 3.7% in February 2024.
The lowest inflation rates were recorded in Lithuania (0.3%) and Finland (0.7%), while the highest inflation rates were recorded in Croatia (4.9%) and Austria (4.2%). In Germany it was 2.3%, in Italy 1.3% and in France 2.4%.
Eurozone inflation slowed to 2.6% year-on-year in February and 2.8% year-on-year in January, according to the latest data from Eurostat.
As GMK Center previously reported, the euro area GDP for October-December 2023 was unchanged compared to July-September last year. Compared to the fourth quarter of 2022, the euro area economy grew by 0.1%.
The European Commission has cut its growth forecast for the euro zone economy in 2023 and 2024, saying inflation remains too high, consumer spending is falling and Germany, the region's largest economy, is sliding into recession. did. The GDP of the euro area is expected to grow by 1.3% in 2024. These numbers are lower than his May forecast of 1.6%.
