Trading economics-

The consumer price inflation rate in the Euro Area declined to 2.4% year-on-year in March 2024, matching November's 28-month low and falling short of market expectations of 2.6%, a preliminary estimate showed. The core rate, excluding volatile food and energy prices, also cooled to 2.9%, its lowest point since February 2022 and below forecasts of 3.0%. Energy prices saw a decline of 1.8% (vs -3.7% in February), while the pace of price rises moderated for food, alcohol & tobacco (2.7% vs 3.9%), and non-energy industrial goods (1.1% vs 1.6%). On the other hand, services inflation held steady at 4.0%. On a monthly basis, consumer prices increased by 0.8% in March, following a 0.6% rise in February.