Eurozone inflation slows its rise to 6.9% in March and underlying rates rise to 5.7%

The year-on-year inflation of the eurozone In March, it stood at 6.9%, compared to the 8.5% price increase in the previous month, as confirmed by Eurostat’s Community Statistical Office. As for the European Union, year-on-year inflation declined in March from 9.9% in February to 8.3%.

Meanwhile, the indicator of the underlying rate continues to rise from 5.6% in February to 5.7% in March, marking a new all-time high.

Eurostat calculates core inflation without taking into account the calculation, in addition to energy and food, processed food, tobacco and alcohol, in accordance with the core inflation indicator used by the ECB to make its monetary policy decisions. Core inflation excluding the effect of energy and food, comparable to the figures of the INE in Spain, came in at 7.5%.

In this way, eurozone rates accumulate and for the whole twenty-seven five consecutive months of deceleration, and are at their lowest level since February 2022, before the impact of the Russian invasion of Ukraine, in the case of the eurozone. bloc of the euro, and from April 2022 for the EU. Specifically, the fall in year-on-year inflation is due to lower energy prices compared to March 2022.

Among the twenty-seven, the smallest price increases compared to the same month of the previous year were recorded in Luxembourg (2.9%), Spain (3.1%) and the Netherlands (4.5%), followed by Belgium (4.9% ), Greece (5.4%), Cyprus (6.1%) and France and Finland (both 6.7%). In contrast, the highest rates in March were recorded in Slovakia (14.8%), Lithuania and Poland (15.2%), Estonia (15.6%), Czech Republic (16.5%), Latvia (17.2%) and Hungary (25.6%). %).