Headline inflation in the eurozone remained stable in April at an annual rate of 2.4%, but a deceleration in services prices has kept a June interest rate cut by European Central Bank (ECB) in play.
According to a flash estimate by Eurostat, services inflation, a key watcher for the ECB, eased to 3.7% from 4% in March after five months of no change. Core inflation, which excludes energy, food, alcohol and tobacco, fell to 2.7% in April from 2.9% the prior month. The year-on-year contribution of energy prices as a component of inflation continued to decrease, registering at -0.6% compared to -1.8% in March. Separate gross domestic product figures also released today (30 April) pointed to an improving picture for the eurozone in the first three months of the year, with quarter-on-q...
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