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Eurozone growth slows as inflation stays at record level

The EU's official statistics agency said that first quarter GDP growth in the 19 countries that use the euro slowed to 0.2 percent from the previous quarter, down from 0.3 percent in the final quarter of 2021.

April 29, 2022 / 02:51 PM IST

Growth in the eurozone slowed in the first months of 2022 and inflation remained at a record level, official data showed Friday, as the war in Ukraine rocks the European economy.

The EU's official statistics agency said that first quarter GDP growth in the 19 countries that use the euro slowed to 0.2 percent from the previous quarter, down from 0.3 percent in the final quarter of 2021.

Fuelled by energy prices, consumer prices in the eurozone soared by a record 7.5 percent in April, up from a revised 7.4 percent the month before, Eurostat said.



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AFP
first published: Apr 29, 2022 02:51 pm
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