In the Euro Area, the yearly inflation fell to 2.2% in March. The European Statistics Office (Eurostat) published 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, dropped to 2.2% in March. The CPI for March alone was 0.6%. Market expectations were that the yearly inflation would be 2.2% in March. Core inflation in the Euro Area in March stood at 2.4% annually. When looking at the main components of inflation, the highest price increase was seen in the service sector, at 3.4%, followed by 2.9% for food, alcohol, and tobacco products, 0.6% for non-energy industrial products, and -0.7% for energy products. In March, inflation was at 4.3% in Estonia, Slovakia, and Croatia, 3.6% in Belgium, Latvia, and Lithuania. Annual inflation in Germany was at 2.3%, 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 at 2% in the medium term.