Eurozone inflation rises to target as economy improves

Eurozone inflation rises to target as economy improves

Friday 1438/8/2 – 2017/04/28

Brussels, Sha’ban 2, 1438, Apr 28, 2017, SPA — Inflation across the 19-country eurozone pushed up to the European Central Bank’s target in April as an improvement in the economy showed clear signs of driving up prices, AP reported.
Statistics agency Eurostat said Friday that its headline rate rose to 1.9 percent over the year to April from 1.5 percent the previous month. The increase was a tad more than expected in financial markets and means that inflation is back at the ECB’s target of just below 2 percent.
The main force behind the spike was a big rise in energy costs, which were 7.5 percent higher. A year ago, they had fallen 8.7 percent. The turnaround is due to the rise in oil prices, which has pushed up inflation across the eurozone, as well as other economies, over the past year.
— SPA
13:33 LOCAL TIME 10:33 GMT