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Eurozone inflation confirmed at 1-year low in March

The euro area’s annual consumer inflation rate was confirmed at a 13-month low of 6.9% in March, according to final data released on Wednesday.

The figure was down from 8.5% in February thanks to declining energy costs, the Eurostat data showed.

Energy prices decreased 0.9% year-on-year in March after a hike of 13.7% in the prior month.

The annual core inflation rate, which excludes energy, food, alcohol, and tobacco, rose to 5.7%, according to the EU’s statistical office.

On a monthly basis, the euro area consumer prices index increased 0.9% in March, accelerating from 0.8% in February.

The cost of energy in the single currency zone decreased by 2.2% month-on-month.

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