Eurozone consumers are more optimistic about inflation in April

The European Central Bank said its median forecast for inflation over the next 12 months eased to 4.1% in April from 5.0% in March, while for the next three years it eased to 2.5% in April from 2.9% in March .

The European Central Bank raised interest rates by a combined 375 basis points over the past year to stem price growth, and it may take until 2025 for inflation to slow to its 2% target as pressure remains on rapid wage growth and strong demand for services.

Other data from Eurostat showed that retail sales in the eurozone were unchanged in April. On an annual basis, retail sales fell 2.6% in April, and online sales rose 2.7%. compared to last year.