Eurozone inflation holds steady in April

(Sharecast News) - Eurozone inflation was unchanged in April, official data confirmed on Monday, in line with expectations. According to final readings from Eurostat, the statistical office of the European Union, the annual inflation rate was 2.2% in April, unchanged on March.

Across the wider bloc, the rate ticked down to 2.4% from 2.5% a month earlier.

Among individual member states, in Germany - the bloc's biggest economy - inflation was 2.2%, down on March's 2.3%.

Inflation was unchanged in Spain and France, at 2.2% and 0.9% respectively, and ticked 0.1 point lower to 2.0% in Italy.

Eurozone core inflation, which strips out more the volatile elements of food, energy and tobacco, was 2.7%. That was up from 2.4% a month previously but in line with expectations.

The European Central Bank's long-term target for inflation is 2%.