FRANKFURT, Germany (AP) — Inflation rose in April in the 19-country eurozone, at first glance an encouraging sign for the European Central Bank in its struggle to sustainably raise prices.
The European Union’s statistics agency Eurostat said Friday that annual inflation rose to 1.7% in April from 1.4% in March. Core inflation, which excludes volatile items like food and fuel, jumped to 1.2% from 0.8%.
Analysts at UniCredit bank said that the jump was boosted by the late date of Easter this year, which distorted some prices. They expect core inflation to settle back to around 1%.
The path of inflation is important because it affects monetary policy, which in turn has wide-ranging impacts on consumers and businesses.