The eurozone’s rate of inflation fell sharply in March, as energy prices across the region continued to fall from record levels reached last summer, but prices for food remained stubbornly high.
But the price of food rose at an annual rate of 15.4 per cent, a record, compared with 15 per cent in February. Earlier this month, the ECB increased rates by half a percentage point. That move came despite turmoil in financial markets caused by the collapse of Silicon Valley Bank and Credit Suisse of Switzerland. Economists have warned that jitters in the banking sector could force the bank to pause at upcoming meetings.
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