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Europe core CPI outstrips economists' forecasts in April

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Staff Writer | April 28, 2017
Europe core CPI
Europe   CPI was up by 1.2%

Consumer prices in the euro area beat forecasts by a comfortable margin in April, especially at the 'core' level, as services prices accelerated.

The headline consumer price index rose at a 1.9% year-on-year clip in April, according to a 'flash' estimate from Eurostat, up from the 1.5% gain recorded last month.

Economists had anticipated a smaller increase to 1.8%.

The rate of advance in prices of unprocessed foods slowed from 3.1% to 2.2% and that for non-energy industrial goods was unchanged at 0.3% on the year.

However, prices for services jumped from 1.0% year-on-year in March to 1.8% in April.

At the "core" level, which excludes prices of energy, food, alcohol and tobacco, CPI was up by 1.2%, from 0.7% in March.

That was ahead of the 1.0% rise economists had penciled in.


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