Inflation In The Eurozone Rises To 1.7 Percent In April

Inflation in the eurozone rises to 1.7 percent in April. Consumer prices increased by 1.7 percent in April compared to the same period a year earlier.

The European statistics agency Eurostat announced this on Friday.

In March the raise was 1.4 percent. Excluding energy, the rise in price levels on an annual basis amounted to 1.3 percent.

Energy prices increased by 5.4 percent in April, driven by the high oil price.

The price level in the services sector also rose relatively sharply by 1.9 percent.

The figures are especially critical for the European Central Bank (ECB).

The ECB’s goal is to keep inflation just below 2 percent.

Since the end of last year, inflation has been falling,

 and market followers have wondered whether the ECB should again stimulate the economy to get inflation higher.