In the Euro Area, the annual inflation fell to 2.2% in March. The European Statistical Office (Eurostat) released the preliminary inflation data for the Euro Area in March. According to the data, the annual Consumer Price Index (CPI) in the Euro Area, which was 2.3% in February, decreased to 2.2% in March. The CPI was 0.6% in March on a monthly basis. Market expectations were that the annual inflation would be 2.2% in March. In March, the core inflation in the Euro Area was recorded at 2.4% on an annual basis. When looking at the main components of inflation, the highest price increase was seen in the service sector with 3.4%. This was followed by food, alcohol, and tobacco products at 2.9%, non-energy industrial products at 0.6%, and energy products at minus 0.7%. Inflation in March was 4.3% in Estonia, Slovakia, and Croatia, 3.6% in Belgium, Latvia, and Lithuania. The annual inflation was 2.3% in Germany, 2.2% in Spain, 2.1% in Italy, and 0.9% in France. On the other hand, the European Central Bank (ECB) aims for inflation to be 2% in the medium term.