Eurozone annual rate of inflation rose to a fresh record high of 7.5% in April from 7.4% in March. The inflation is now more than three times above the ECB target of 2%. War in Ukraine and sanctions on Russia continued to push prices of commodities higher, preliminary estimates showed. Meanwhile, energy prices slowed but remained extremely high (38% vs 44.4%). Excluding energy, the inflation also increased to 4.2% from 3.4% and excluding energy, food, alcohol, and tobacco went up to 3.5% from 2.9%.
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