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Euro zone inflation rises, unemployment rate unchanged

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by Kay Mitchell

Figures today showed inflation in the euro zone rose 1.5% year-on-year in April, up from 1.4% the previous month.

While the rise was expected, the figure still remains well below the European Central Bank’s (ECB) target.

The figures led many analysts to believe that the ECB will keep interest rates at the record low of 1% until 2011.

Meanwhile, the European Union’s statistics agency has today announced unemployment in the 16-member euro zone stayed flat month-on-month at 10% in March.

Eurostat said 15.8 million people were unemployed in the euro zone during the month.

The economic downturn has hit the euro zone particularly hard and the region contracted by 4% over the whole of last year – its biggest fall since the euro was launched.

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News posted: April 30, 2010

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