Euro zone inflation dipped to 2.2% in March, as expected, according to flash data from statistics agency Eurostat published Tuesday.

Euro zone inflation eased as expected last month and a key measure of underlying price pressures also fell, likely adding to already widespread expectations for another European Central Bank interest rate cut later in April.

Following years of pandemic and war-driven inflation, the European Central Bank has set monetary policy around stabilizing European Union inflation at 2% in 2025.