Consumer prices in the eurozone rose 2.5% year-on-year in March, the European Union's statistical office said in a report, which presented preliminary data.
This accelerated from the previous month, when it was 1.9%. Analysts had expected consumer prices in the region to rise by 2.6% in March, according to Trading Economics.
Inflation this month reached its highest level since January 2025 due to rising energy prices due to the military conflict in the Middle East. According to preliminary data, energy prices rose by 4.9% in March year-on-year after falling by 3.1% in February. Their appreciation is noted for the first time in nearly a year and became the most significant since February 2023. The growth of services costs slowed to 3.2% from 3.4%, industrial goods - to 0.5% from 0.7%, food, alcohol and tobacco products - to 2.4% from 2.5%.
Consumer prices excluding food and energy costs (CPI Core index) increased by 2.3% on an annual basis after an increase of 2.4% a month earlier. On average, experts expected the dynamics in February to continue. On a monthly basis, consumer prices in the euro area jumped by 1.2% in March after rising by 0.6% in February. Final data on the dynamics of inflation in the euro area for the current month will be published on April 16.