Euro zone inflation accelerated in April, with headline CPI rising from 2.6% y/y to 3.0% y/y, in line with expectations and at the highest level since 2023. In contrast, core inflation – which excludes energy, food, alcohol and tobacco – fell slightly from 2.3% y/y to 2.2% y/y, suggesting that broader price pressures are not increasing at the same pace.
The move highlights the renewed impact of energy prices on inflation expectations, even as underlying pressures remain contained. The main driver behind the rise in headline inflation was energy, with prices jumping sharply from 5.1% y/y to 10.9% y/y.
Services inflation moderated from 3.2% y/y to 3.0% y/y, indicating some easing in the domestic demand-driven components. Other categories showed more modest movements. Inflation for food, alcohol and tobacco prices rose from 2.4% y/y to 2.5% y/y, while prices of non-energy industrial goods rose from 0.5% y/y to 0.8% y/y.
| index | He walks | April | It changes |
|---|---|---|---|
| Consumer Price Index (annual) | 2.6% | 3.0% | ↑ +0.4 |
| Core CPI (annual) | 2.3% | 2.2% | ↓ -0.1 |
| component | He walks | April | It changes |
|---|---|---|---|
| energy | 5.1% | 10.9% | ^ +5.8 |
| Services | 3.2% | 3.0% | ↓ -0.2 |
| Food, alcohol and tobacco | 2.4% | 2.5% | ↑ +0.1 |
| Non-energy industrial goods | 0.5% | 0.8% | ↑ +0.3 |
