Brussels: The eurozone's inflation rate rose significantly in April, reaching 3%, its highest level since 2023, driven by rising energy prices. Data released by Eurostat on Thursday showed that the Harmonized Index of Consumer Prices (HICP) rose by an annual rate of 3% in April, compared to 2.6% in March.
According to Yemen News Agency, the final inflation rate matched the preliminary estimates published on April 30. The rise in energy prices is attributed to the repercussions of the war with Iran and the resulting closure of the Strait of Hormuz, a key waterway for global oil and gas trade.
Meanwhile, core inflation, which excludes energy, food, alcohol, and tobacco prices, fell to 2.2% in April, compared to 2.3% in the previous month.