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Euro Area’s Annual Inflation Hits a New Record 7.5% In April

April 29, 2022 by Forex Winner Leave a Comment

Inflation

Source: Eurostat

Inflation was estimated to have jumped to a fresh record of 7.5% in the euro area in April, from 7.4% the previous month. DAX is up +0.82%, EURUSD is up +0.28%.

Euro Area Annual Inflation
  • The energy was the main driver of the annual inflation in April, with a surge of 38%, although the gain was lower compared to an increase of 44.4% in March.
  • Inflation in the food, alcohol, & tobacco category was up by 6.4%, an increase from 5.0% in March. Non-energy industrial goods increased by 3.8% from the previous 3.4%, while services prices rose by 3.3% from 2.7% in March. 
  • The record inflation data comes a day after ECB Vice President Luis de Guindos insisted that the price rally was close to peak. The central bank says inflation will abate in the second half of the year, although energy will keep prices elevated. 
  • The surging inflation comes even as Russia’s energy firm Gazprom stopped its gas flows to two EU countries, sparking fears of more severed supplies to Europe.

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Filed Under: Forex News Tagged With: EU, Inflation

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