Eurozone Verbraucherpreise

The consumer price inflation rate in the Euro Area was confirmed at 2.4% year-on-year in March 2024, matching November's 28-month low and slightly exceeding the European Central Bank's target of 2%. The pace of price increases moderated for both food, alcohol & tobacco (2.6% vs 3.9% in February) and non-energy industrial goods (1.1% vs 1.6%), while energy prices declined at a softer rate (-1.8% vs -3.7%). Meanwhile, services inflation held steady at 4.0%. The core rate, excluding volatile food and energy prices, also cooled to 2.9%, its lowest point since February 2022. On a monthly basis, consumer prices advanced by 0.8% in March, following a 0.6% increase in February.