Eurozone inflation drops more than expected in March

With core inflation, which excludes food and energy costs, at 5.7%, further interest rate rises could be on the way

While headline inflation is expected to drop, food inflation and core inflation remains high. 

Eurozone inflation is estimated to have dropped moderately down to 6.9% during the month of March, new flash estimates suggest.

In February, eurozone inflation was running at an annual rate of 8.5%. The slowdown was driven by a steep retreat in energy costs from the eye-watering levels they reached after Russia attacked Ukraine last year.