Germany's inflation rate reached 2.9% in April, the highest since January 2024, primarily due to a more than 10% surge in energy costs. This increase is linked to disruptions in global energy markets and the ongoing Middle East conflict.
In Spain, EU-harmonised annual inflation accelerated to 3.5% in April, up from 3.4% in March. While electricity prices saw a decrease partly due to government measures, fuel costs for personal vehicles continued to climb.
These figures emerge as concerns grow over Middle East instability potentially elevating eurozone inflation. The European Central Bank is set to announce its decision on interest rates on Thursday in Frankfurt. Data for France, Italy, and the broader eurozone are also expected, with projections indicating inflation at 3%, exceeding the ECB's 2% target.