People walk through the streets of Montmartre, Paris, France, on April 23, 2024.
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Price rises in the 20-nation euro zone held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to preliminary figures published on Tuesday.
The headline inflation rate of 2.4 percent was in line with expectations of economists polled by Reuters.
Core inflation, excluding energy, food, alcohol and tobacco, fell to 2.7% from 2.9% in March.
Meanwhile, GDP rose 0.3% during the first three months of the year, after a 0.1% contraction in the fourth quarter in the euro zone.
Market expectations are growing that the European Central Bank will start cutting interest rates at its next monetary policy meeting on June 6. Money market prices currently indicate a roughly 70% chance of a cut in interest rates in June, according to London Stock Exchange data, with higher bets on a cut in interest rates in June. Cut in July or September.
A number of voting members of the European Central Bank told CNBC earlier this month that they expect a rate cut in June, citing the need to prevent an excessive slowdown in the eurozone economy. They also pointed to risks arising from oil prices and volatility in the Middle East.
This is a breaking news story and will be updated soon.
