Eurozone inflation rose in April

Inflation rose in the Eurozone last month, giving more reason for the European Central Bank to raise interest rates slightly at its meeting on Thursday.

Inflation has slowed sharply from double-digit readings late last year, but it is still significantly high, which makes raising interest rates again a necessity and 50 basis points.

The European Union’s statistics office Eurostat reported on Tuesday that the total price increase in the 20 Eurozone countries rose to around 7% in April from 6.9% in March.