The eurozone’s core inflation rate dropped to its lowest level in nearly two years in February, bolstering hopes that Europe’s inflation crisis may have permanently abated and that the European Central Bank (ECB) will cut interest rates later this year.
Eurozone inflation surged past expectations to hit double digits for the first time, piling pressure on the European Central Bank to keep raising interest rates amid warnings that prices have not yet peaked.
Spiralling energy bills and disruptions caused by the war in Ukraine caused consumer prices in the eurozone to surge by a new record of 7.5% in March, the EU statistics agency Eurostat said on Friday (1 April).
