Harmonized consumer prices rose 0.69% in April over the previous month, below the 2.47% rise recorded in March. April’s result marked the weakest reading since December 2021. Looking at the details of the release, prices for recreation and culture rose at a faster rate in April. In contrast, prices for housing rose at a slower rate. Meanwhile, food prices expanded. Moreover, prices for clothing and footwear grew at a more subdued pace.
Harmonized inflation came in at 7.8% in April, which was up from March’s 7.6%. April’s figure was the highest inflation rate since our current records began. Annual average harmonized inflation rose to 4.8% in April (March: 4.3%).
FocusEconomics panelist expect harmonized inflation to average 3.9% in 2022 and 2.0% in 2023.