Inflation in the Eurozone slowed down significantly in March amid falling energy prices that helped lower the burden of people living in the bloc.
Consumer prices in March were at 6.9%, according to preliminary data reported by Eurostat on Friday, showing a significant drop from 8.5% in February. Falling energy costs cut prices from the reading by 1.6 percentage points.
Meanwhile, core inflation, which excludes food and energy prices, edged slightly higher to 5.7%, compared to 5.6% in February.
As the market is assessing the new data, earlier forecasts showed that stronger than expected core and underlying inflation data from Spain and Germany is making the market feeling unease and the probability of as much as three hikes by the end of this year was growing.
