Economic Buzz: Eurozone inflation rise to 3% in April

Annual inflation in the euro area came in at 3% in April, up from last month's figure of 2.6%, Eurostat revealed in its preliminary report on Thursday. On a monthly basis, the Consumer Price Index (CPI) rose 1%.

Core CPI, which excludes energy, food, alcohol and tobacco, increased 2.2% year-over-year and 0.9% month-over-month.

Food, alcohol and tobacco prices rose by 2.5% in April compared to the same month a year ago. Services annual inflation was at 3% and non-energy industrial goods prices rose 0.8%. Meanwhile, energy prices surged 10.9% on an annual level.

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