Eurozone Inflation Up Further Due To Higher Oil Price

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Eurostat reports based on an initial estimate in April, inflation in the eurozone rose to 1.6 percent on an annual basis in April.

 

That is considerably higher than the 1.3 percent monetary devaluation reported by Eurostat in March. The main reason for the increase is the further increase in oil prices and the associated price for energy.

Core inflation, without the volatile prices for energy, food, alcohol and tobacco, amounted to 0.8 percent. That is slightly lower than the 0.9 percent of March.

There are significant differences in inflation within the eurozone. Greece has the lowest inflation rate at minus 0.8 percent. Inflation is highest in Luxembourg at 3.3 percent.

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