Official figures show that inflation across the 19-country eurozone pushed up to the European Central Bank’s target in April following a spike in underlying price pressures.
Statistics agency Eurostat said Friday that its headline rate rose to 1.9 percent over the year to April from 1.5 percent the previous month. The increase was a tad more than expected in financial markets and means that inflation is back at the ECB’s target of just below 2 percent.
The big development was the rise in the core inflation rate, which strips out the volatile items of food, energy, alcohol and tobacco, to 1.2 percent from 0 .7 percent. That’s important as it shows that inflation pressures may be building as the eurozone economy gains momentum.