Eurozone Inflation Falls Faster Than Expected In March

Inflation is getting closer to the ECB's two-percent target, which will make the case for cutting rates stronger (Credit: AFP)

The eurozone's annual rate of inflation dipped further than predicted in March, official data showed Wednesday, spurring hope that the European Central Bank will cut interest rates in June.

Consumer price rises in the single currency area slowed to 2.4 percent, from 2.6 percent in February, the EU's statistics agency said.