Eurozone official inflation up to 2.7pc in March

BRUSSELS: Eurozone inflation reached 2.7 percent in March, the same as February after a slight upward revision on Tuesday, official figures showed.

The rate, up 0.1 percent from an initial estimate, marked the 16th month running during which inflation exceeded the European Central Bank's target of below but close to 2.0 percent, having peaked at 3.0 percent in September.

The European Union's Eurostat data agency said the rate in the region's biggest economy Germany was 2.3 percent, but the figures also showed a sharp climb in Italy from 3.4 percent to 3.8 percent.