Consumer prices in the euro area in March 2022 increased by 7.5% in annualized terms, according to preliminary data from the Statistical Office of the European Union (Eurostat). This is the maximum figure in the history of the introduction of calculations. In March, annual inflation in the eurozone was 7.4%. Analysts surveyed by Trading Economics, on average, expected price growth also by 7.5%.

Relative to the previous month, consumer prices rose by 0.6%.

Consumer prices excluding such volatile factors as the cost of energy, food and alcohol (CPI Core index tracked by the European Central Bank) rose by 3.5% year-on-year in April after rising by 2.9% in March.

Energy prices slowed to 38% growth last month after jumping a record 44.4% in March. Prices for manufactured goods rose 3.8% (+3.4% a month earlier).

The cost of food, alcohol and tobacco products increased 6.4% after rising 5% in March. Services rose by 3.3% (+2.7% a month earlier).

The highest inflation in annual terms was recorded in Estonia (19%) and Lithuania (16.6%). The lowest price growth was observed in Malta (4.9%) and France (5.4%).