Eurozone Inflation Remains Steady at 2.2% in April

Eurozone inflation remained unchanged at 2.2% in April, according to a preliminary estimate from Eurostat in Luxembourg. This figure matches the previous month's increase in consumer prices year-on-year. The persistence of inflation is proving more stubborn than economists had anticipated, with forecasts averaging 2.1% for April. Consumer prices rose by 0.6% in April compared to the previous month, exceeding the expected 0.5% increase. Energy prices continued to decline, falling by 3.5% year-on-year. However, service prices rose even more sharply than in the previous month, increasing by 3.9%. Core inflation, which excludes volatile energy, food, alcohol, and tobacco prices, increased. The annual rate rose from 2.4% to 2.7%. The European Central Bank (ECB) aims for a medium-term inflation rate of two percent for the Eurozone.