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- Eurozone consumer price growth slowed in line with forecasts in March
Eurozone consumer price growth slowed in line with forecasts in March
According to the report from Eurostat, the euro area annual inflation rate was 0.7% in March 2020, down from 1.2% in February. A year earlier, the rate was 1.4%. European Union annual inflation was 1.2% in March 2020, down from 1.6% in February. A year earlier, the rate was 1.6%.
The lowest annual rates were registered in Spain, Italy, Cyprus and Portugal (all 0.1%). The highest annual rates were recorded in Hungary, Poland (both 3.9%) and Czechia (3.6%). Compared with February, annual inflation fell in twenty-six Member States and rose in one.
In March, the highest contribution to the annual euro area inflation rate came from services (+0.60 percentage points, pp), followed by food, alcohol & tobacco (+0.46 pp), non-energy industrial goods (+0.13 pp) and energy (-0.45 pp).
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