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Inflation in March? Falls back to 2.4% in the Eurozone

It is the third consecutive time that inflation has decreased in the eurozone, now standing at 2.4% (closer to the ECB's medium-term target of 2%).

29 Apr 20242 min

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Slowdown of inflation rate to 2.4% in March in the eurozone.

The inflation rate in the Eurozone in March is once again decreasing: it is now at 2.4%.

The data was disclosed by Eurostat and also revealed that, in the European Union (EU), inflation slowed down to 2.6%.

For the third consecutive month, the European statistical service's flash estimate indicates a slowdown in the annual inflation rate to 2.4%, compared to 6.9% in March 2023 and 2.6% in past February.

The average inflation rate of 2.6% among the 27 Member States also compares with 8.3% and 2.8% from the previous month.

Where were the lowest inflation rates recorded? The measures of the Harmonized Index of Consumer Prices (HICP - which allows comparisons between Member States) indicate Lithuania (0.4%), Finland (0.6%), and Denmark (0.8%).  

On the other hand, the highest inflation rates were recorded in Romania (6.7%), Croatia (4.9%), Austria and Estonia (4.1% each).  

Facing February, the data shows the indicator slowed down in 13 Member States, remained in four, and increased in the remaining 10.

Specifically in Portugal, the year-on-year inflation rate measured by the HICP was 2.6% in March, which represents an increase compared to February (2.3%), but a significant decrease compared to March 2023 (8.0%).  

It is worth noting that these data are increasingly closer to the 2% target set by the European Central Bank (ECB) for medium-term inflation.  

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