Eurozone inflation fell more than expected in March

Eurozone inflation fell more sharply than expected in March to 2.4 per cent year-on-year, figures from the European statistics agency Eurostat showed on Wednesday. 

Inflation in the eurozone was 0.2 percentage points lower last month than in February. Economists surveyed by Bloomberg had on average expected a drop to 2.5 percent.

With eurozone inflation having cooled considerably from its peak in 2022, there is a lively debate within the European Central Bank about when the central bank might start cutting interest rates again. 

The recent drop brings inflation even closer to the ECB's 2 per cent target. If the downward trend continues, the central bank could decide to cut interest rates in the coming months. 

Earlier on Wednesday, ECB member Robert Hollzman said he would not oppose a rate cut in June, but stressed the importance of additional supportive data. 


Photo © Denis LOVROVIC / AFP

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