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Euro Area Inflation Steady at 2.4% in April

Inflation in the euro area held steady at 2.4% in April, maintaining the same annual rate as in March. The core inflation rate, which strips out food and energy prices, decreased to 2.7%. From January to March 2024, the seasonally adjusted GDP for both the euro area and the European Union increased by 0.3% quarter-on-quarter. This marks a turnaround from the fourth quarter of 2023, when the eurozone’s economy fell by 0.1%, while the EU’s economy remained stable.