Eurozone Inflation April 2017


Eurozone: Inflation rises in April

April 28, 2017

Harmonized inflation in the Eurozone rose in April to the second highest rate since January 2013, according to a flash estimate released by Eurostat on 28 April. Harmonized inflation was 1.9%, up from March’s 1.5%. The result was a tad above market expectations of a 1.8% reading. April’s print brought inflation back to the ECB’s target of just under 2.0%, stoking speculation that the Bank could end its ultra-loose monetary policy sooner than expected.

According to Eurostat, the main contributor to April’s acceleration was a sharp rise in energy prices as well as services, while inflation for food, alcohol and tobacco prices moderated slightly in the same month. Core inflation edged up to 1.2% from March’s 0.7%, suggesting that underlying price pressures are gradually resurfacing. Month-on-month price variations and a more detailed set of data will be provided on 17 April.

FocusEconomics Consensus Forecast participants see inflation in the Euro area averaging 1.7% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, panelists expect inflation to average 1.5%.

Author: Angela Bouzanis, Lead Economist

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