Breaking: Eurozone Preliminary Inflation surges 7.5% YoY in March, a big beat

The annualized Eurozone Harmonised Index of Consumer Prices (HICP) surged by 7.5% in March, coming in much higher than the previous reading of 5.9%, the latest data published by Eurostat showed on Friday. The consensus forecast was for a hotter reading of 6.6%.

The core figures arrived at 3.0% YoY in March when compared to 3.1% expectations and 2.7% booked in February.

The Euro area figures are reported a couple of days after Germany’s annual inflation for March rose way past expectations of 6.7%, arriving at 7.6% following a 5.5% increase reported in February.

The bloc’s HICP figures hold significance, as it helps investor assess the chances that the European Central Bank (ECB) might signal a faster than expected path for policy tightening. 

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