ECB Nears Victory In Campaign To Tame Inflation

While the United States grapples with the threat of surging inflation, the European Central Bank is closing in on its goal of restoring inflation to 2%, according to a recent report by Bloomberg News.

Business surveys for April show that U.S. tariffs have so far not done much damage.

Consumer-price growth in the eurozone likely slowed to 2.1% in April, according to the median forecast of 32 economists surveyed by Bloomberg. An underlying measure that excludes volatile items such as energy is expected to tick up to 2.5% when official readings are released next Friday.

“Business surveys for April suggest that U.S. tariffs have not done much damage in the eurozone so far,” said Capital Economics Chief Europe Economist Andrew Kenningham.

“But we think there will be a noticeable impact in the coming months and have reduced our forecast for eurozone GDP growth to almost zero for the second and third quarters.”