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MNI BRIEF: EZ March Inflation Breaks Through 7%

(MNI) London

Eurozone HICP surged in March, rising by 2.5% in the month, taking the annual increase to a new record high of 7.5%, offering up further policy dilemmas for the European Central Bank.

The outturn was in line with late expectations, although those forecasts were were upgraded after the release of surprisingly-high national inflation data.

Energy prices accounted for much of the gain, rising by 12.5% between February and March for a 44.7% annual gain. Excluding food, energy alcohol and tobacco, core HICP increased by 1.2% over the month for an annual gain of 3.0%.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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