In April, Eurozone prices are expected to soar for the second consecutive month. The data will be announced on the day of the central bank's decision.

The impact of the war in Iran is squeezing the entire Eurozone economy, while inflation in the region in April may surge to its highest level in two and a half years. According to the median forecast of 28 analysts, data to be released on Thursday is expected to show that the Eurozone's year-on-year inflation rate in April is 3%. If true, this would mean that the pressure on consumers will further intensify after the largest increase in the CPI since the outbreak of the Russia-Ukraine conflict in 2022 in March. This forecast number is a full percentage point higher than the European Central Bank's target of 2%, highlighting how serious the impact of the Middle East conflict and the disruption in energy supply around the Strait of Hormuz are on Eurozone households and businesses.