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Euro zone April inflation revised down to nearly four-year low

BRUSSELS, Euro zone annual inflation in April was 0.3%, the lowest level in nearly four years, according to final data released on Wednesday by Eurostat, which revised down its earlier estimate as energy prices fell more than initially expected, Reuters reported.
The European Union statistics agency had previously estimated that consumer prices in the 19-nation currency bloc rose 0.4% on the year in April, but on Wednesday lowered the figure to 0.3%, the lowest since August 2016. Headline inflation confirmed its slowing trend since the start of the year, dropping from 0.7% in March, 1.2% in February and 1.4% in January, farther away from the European Central Bank target of a rate below but close to 2% over the medium term.
The revision was caused by a larger-than-expected fall in energy prices. Eurostat said energy prices in the bloc fell 9.7% in April year-on-year, revising down its earlier estimate of a 9.6% drop.
Month-on-month, Eurostat confirmed inflation in the euro zone rose 0.3%.

 

Source: Saudi Press Agency

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