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 .<\/p>\n
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.<\/p>\n
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.<\/p>\n\n\n
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