Eurozone inflation slows by more than expected in March

March 31, 2023 5:27 AM EDT

By Scott Kanowsky -- Headline inflation in the Eurozone eased by more than anticipated in March, according to preliminary data on Friday, but accelerated on a monthly basis in a sign of lingering price pressures in the region.

Figures from Eurostat showed that consumer prices in the currency area rose by 6.9% on an annualized basis, slowing from an increase of 8.5% in February. Economists had predicted the number would come in at 7.1%.

However, month-on-month prices inched up by 0.9% from 0.8% in the previous period. Estimates had seen the reading remaining at its February level.

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