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Eurozone Inflation Accelerates Further In March

Eurozone inflation accelerated further to a new record high in March, flash data from Eurostat showed on Friday.

Inflation rose to 7.5 percent from 5.9 percent in February. The rate was also above the economists’ forecast of 6.6 percent.

Core inflation that excludes energy, food, alcohol and tobacco, advanced to 3.0 percent from 2.7 percent. Economists had forecast an annual rate of 3.1 percent.

On a monthly basis, the harmonized index of consumer prices gained 2.5 percent in March. Final data is due on April 21.

Among the main components, energy posted the biggest annual increase of 44.7 percent. Food, alcohol and tobacco prices grew 5.0 percent and prices of non-energy industrial goods climbed 3.4 percent. Cost of services moved up 2.7 percent.

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