Eurozone inflation holds steady at 2.2% in April, beating expectations

Eurozone inflation held steady at 2.2% in April, beating expectations for a decline, according to preliminary data released by the European statistics agency today.

Economists had forecast inflation at 2.1% in April, compared to 2.2% in March, as inflationary pressures continued to subside and approached the European Central Bank’s 2% target, according to Reuters.

Several major eurozone economies have already released their latest inflation data, which have been standardized to be comparable across the bloc.

The German statistics office said on Wednesday that it expects consumer prices to have risen by 2.2% in April, a reading lower than the previous month but slightly above expectations. Harmonized inflation in France came in at 0.8%, also above estimates.