Euro zone Inflation lessens in April; Budget cuts and high unemployment capped prices
The European Union’s Statistics Office in Luxembourg released today inflation data for the euro area. CPI m/m eased to 0.5% in April, as expected for 0.5% lower from March’s final reading of 1.3%. On a yearly basis, CPI came out at 2.6% as expected. EZ Core CPI y/y was unchanged at 1.6% in April against consensus for 1.5%.
With the euro zone economy showing weak signs of recovery, along with austerity plans and high unemployment in Spain, Italy and Greece, firms have little room to raise prices.
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