Euro zone March inflation holds steady

Year-on-year inflation in the 12-nation euro zone was 2

Year-on-year inflation in the 12-nation euro zone was 2.6 per cent in March, with Ireland recording the third-highest rate of 4.1 per cent.

EU statistics agency Eurostat says that for all 15 EU members, annual inflation - measured by harmonised indices of consumer prices - was unchanged from February but up 1.9 per centfrom March 2000 when the rate stood at 2.1 per cent.

A Eurostat statement said highest year-on-year inflation rates were recorded in Portugal (5.1 per cent), The Netherlands (4.9 per cent) and Ireland (4.1 per cent).

The lowest rates were in France (1.4 per cent), Sweden (1.7 per cent - but outside the euro zone) and Austria (1.9 per cent). The German rate was 2.5 per cent.

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The 15 EU member state average was calculated without March data from Britain, where the annual inflation rate was 0.8 per cent in February.

AFP