Eurozone Inflation Holds Above Expectations In April

With inflation close to the two-percent target, the ECB has shifted to cutting interest rates to boost the eurozone's sluggish economy (Credit: AFP)

Inflation in the eurozone remained unchanged in April, staying higher than analysts expected, official data showed on Friday, but was unlikely to sway the European Central Bank from its interest rate-cutting cycle.

Consumer prices in the 20-country single currency area rose 2.2 percent in April, the same rate as in March, the EU statistics agency said, despite a faster fall in energy prices.