The rate of inflation in the euro zone it remained at a record high in April, at 7.5% year-on-year, according to the European statistics agency Eurostat, in a scenario in which the situation in Ukraine keeps energy prices high.
March inflation had already been estimated by Eurostat at 7.5%, although it was later revised slightly to 7.4%. This is the highest level of the index of consumer prices in the eurozone since 1997, the year in which the historical series began.
The gauge has broken records every month since last November.
As in previous months, energy prices represent the main factor behind the high inflation. This is an element that had become evident at the end of last year and consolidated its seriousness with the war in Ukraine.
According to Eurostat, energy experienced an interannual rate of 38% in April, although in March it had been measured at 44.4 percent.
In comparison, the segment of food, alcohol and tobacco experienced an increase of 6.4% in April, while industrial goods not linked to energy exhibited a rise of 3.8 percent. In the services segment, the increase was 3.3 percent.
The current level of inflation is well above the objective of the European Central Bankat a rate “close to but less” than 2% per year.
This scenario reinforces the pressure for the ECB to tighten its accommodative monetary policy without delay and, therefore, increase its official interest rates.