Euro zone April inflation revised down to nearly four-year low GlobeBusiness
, 1.2 per cent in February and 1.4 per cent in January, farther away from the European Central Bank target of a rate below but close to 2 per cent over the medium term.The revision was caused by a larger-than-expected fall in energy prices, amid the coronavirus crisis and the oil price war between Russia and Saudi Arabia, two major producers of petroleum.
Excluding energy prices, inflation in the bloc rose to 1.4 per cent in April from 1.3 per cent in March, Eurostat data showed, mostly driven by higher prices in supermarkets. In the services sector, the largest in the bloc’s economy, inflation was 1.2 per cent in April year-on-year, down from 1.3 per cent in March.
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