Eurozone inflation reaches 7.4%

The eurozone's annual rate of inflation rose further in March, marking the highest print in history despite being below the level of the preliminary reading, reported from MarketWatch.

Consumer prices rose 7.4% on year in March after a 5.9% rise in February, according to the final estimate released Thursday by Eurostat, the European Union's statistics agency. The figure has been lowered from the preliminary estimate of 7.5%. Economists polled by The Wall Street Journal forecast eurozone inflation at 7.5% on year in March.

Consumer prices rose 2.4% over the previous month in March, below the forecast and the first estimate of 2.5%.

The core consumer price index--which excludes the more volatile categories of food and energy--rose 2.9% on year in March after rising 2.7% the previous month, below the forecast and the first estimate of 3.0%.

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