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Eurozone annual inflation up to 0.7 percent in April

English.news.cn   2014-04-30 18:28:42

BRUSSELS, April 30 (Xinhua) -- The eurozone's annual inflation rate is expected to reach 0.7 percent in April 2014, up from 0.5 pct in March, according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, services is expected to be the highest annual rate, followed by food, alcohol and tobacco, non-energy industrial goods, and energy.

In March, inflation in the common currency area fell to 0.5 percent from 0.7 percent in February, far below the European Central Bank's medium maintenance target of "below but close to 2.0 percent." Many economists forecast inflation to drop again in May.

The ECB is keeping benchmark interest rate at the historically low level of 0.25 percent. Its president Mario Draghi was cited on Monday by media as saying that a quantitative-easing program in the eurozone was not yet imminent.

Editor: Fu Peng
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