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This rate was considered worse than the expectations of “Facttest” and “Bloomberg” analysts, who expected a stability of 6.9%. With this increase, the pressure on European household expenditures increases, and pressure increases on the European Central Bank to launch another large increase in interest rates.
The annual inflation rate in the euro area recorded a slight increase of 7%, after the rate recorded during the past month was in the range of 6.9%, thus putting an end to a series of declines for five consecutive months, according to the General Administration of the European Commission “Eurostat”.
This rate was considered worse than the expectations of “Facttest” and “Bloomberg” analysts, who expected a stability of 6.9%. With this rise, the pressure on European household expenditures increases, and the pressure on the European Central Bank to launch another large increase in interest rates increases.
A slight decline was recorded in food prices, which fell on an annual basis from 15.5% in March, to about 13.6%, while energy prices increased by 2.5%.
Core inflation excluding food and fuel (volatile) slowed slightly, but was still high at 5.6%, confirming expectations that the European Central Bank will accelerate its campaign to rein in inflation with a rate hike. pace will go towards that goal?”.
Analysts say the European Central Bank meeting this Thursday in Frankfurt could end up increasing by a quarter or half a percentage point. An increase of a quarter of a point would be moderation in the bank’s series of rapid increases, while an increase of half a point would confirm the state of concern that inflation is not heading towards the bank’s target, which aims to set the 2% rate that is considered best for the economy.
The annual inflation rate in the eurozone rose to 7%.