FRANKFURT—Euro zone inflation inched up to a new record high as expected this month, making uncomfortable reading for European Central Bank (ECB) policymakers already worried that rapid price growth could become entrenched, creating a hard-to-break wage-price spiral.
Inflation in the 19-country currency bloc rose to 7.5 percent in April from 7.4 percent in March, in line with expectations, driven by a persistent surge in energy and food prices, data from European Union statistics agency Eurostat showed on Friday.
Although volatile energy costs were the biggest contributor, the rate of energy inflation actually declined compared to March while price growth in food, services, and non-energy industrial goods accelerated further, suggesting that inflation is becoming increasingly broad-based.
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