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Inflation in the EU unchanged in April, up in the Czech Republic

Consumer prices in the European Union rose by 2.6 percent year-on-year in April, leaving inflation at the March level. In the Czech Republic, however, inflation rose from 2.2 percent to 3.1 percent.

A year ago, annual consumer price inflation in the European Union was 8.1 percent. But in April this year, consumer prices rose by 2.6 per cent year-on-year, leaving inflation the same as in the previous month. But the situation was different in the Czech Republic, where inflation rose from 2.2 per cent to 3.1 per cent. The European statistics office Eurostat said in its final report today. Eurostat uses harmonised data, which differ from the calculations of the Czech Statistical Office (CSO).

In the eurozone, the inflation rate also remained the same as in March, at 2.4 percent. Inflation is gradually approaching the European Central Bank's (ECB) target of 2 per cent. The ECB started raising interest rates in July last year in order to bring inflation under control, but suspended the rate hikes last October. Since then, it has held its key interest rate at 4.5 per cent.

Source: Seznam

Prepared by CzechTrade London team