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Inflation is growing albeit mostly because of rising gas and energy prices

Inflation in the euro area is significantly higher in March than a month earlier. This is the view of the European statistical office Eurostat on the basis of an initial estimate. The main reason for the increase is the increased energy prices.

Inflation this month is 1.3 percent on an annual basis. In February it was a currency depreciation of 0.9 percent. Economists had already expected inflation to rise and expected an average increase to 1.4 percent.

Within Europe there are large differences in inflation. In Greece, for example, it was minus 2% and in Luxembourg it was plus 2.4%. With an inflation rate of 1.9 percent, Belgium is also among the countries where money becomes less valuable the fastest.

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