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Inflation inches up in Europe ahead of interes rate decision

By AP News - May 02, 2023, 05:06 AM ET

Last Updated - Jun 22, 2023, 12:10 AM EDT

Europe’s painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase

FRANKFURT, Germany (AP) — Europe's painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase.

Consumer prices in the 20 countries using the euro currency jumped 7% in April from a year earlier, just down from the annual rate of 6.9% in March, the European Union statistics agency Eurostat said Tuesday.

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Food prices eased a little, falling to an annual 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%.

Core inflation, which excludes volatile food and fuel, slowed slightly but was still high at 5.6%, underlining the expectation that the ECB will press ahead with its campaign to beat inflation into submission with rate hikes. The question is: How quickly will the bank go?

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Europe’s painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase

Sponsored

Food prices eased a little, falling to an annual 13.6% from March’s 15.5%, while energy prices rose a more modest 2.5%.

Sponsored

Inflation inches up in Europe ahead of interes rate decision

Europe’s painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase

Also Read: A key inflation gauge tracked by Fed remained high in March

Better measure

Also Read: Sweden raises key interest rate again to target inflation

Also read: Inflation takes a March tumble at the wholesale level

Read more:

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Inflation inches up in Europe ahead of interes rate decision

Europe’s painful inflation inched higher last month, extending the squeeze on households and keeping pressure on the European Central Bank to unleash another large interest rate increase

Also Read: A key inflation gauge tracked by Fed remained high in March

Better measure

Also Read: Sweden raises key interest rate again to target inflation

Also read: Inflation takes a March tumble at the wholesale level

Read more:

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