Economic news

Euro area inflation accelerates in moderate support for ECB policy

Euro area inflation rose in line with forecasts in March mainly due to more expensive food and services, fresh figures showed on Wednesday, providing moderate support to European Central Bank officials ending asset purchases.

Eurozone consumer prices rose 1.4 percent year-on-year in March, up from 1.1 percent in February, Eurostat reported. Jobless rate slumped to a new nine-year trough of 8.5 percent in February, from 8.6 percent in January.

One of the ECB policymakers stated last week that the central bank would probably pare back its monthly asset purchases this summer if things develop as anticipated.

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