Eurozone Sees a Gentle Decline in Inflation Rates

According to a preliminary report released by Eurostat this Tuesday, the annual inflation rate in the euro area has experienced a minor decrease from 2.3% in February to 2.2% in March. The monthly inflation rate for March was recorded at 0.6%, showcasing a steady economic pace.

Sector-Wise Contributions to Inflation

The services sector led the charge in influencing the consumer price index (CPI) with a significant 3.4% increase. Following closely were food, alcohol, and tobacco at 2.9%, while non-energy industrial goods contributed a modest 0.6%.

Core CPI and Regional Variations

The core CPI, which excludes volatile items like energy, food, alcohol, and tobacco, saw a year-on-year rise of 2.4% and a 1% increase since February. Regional disparities were evident, with Slovakia, Estonia, and Croatia recording the highest inflation rates at 4.3%, whereas France reported the lowest at just 0.9%.