Euro area annual inflation is expected to be 1.2% in April 2013, down from 1.7% in March, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in April (2.9% compared with 2.7% in March), followed by services (1.1% compared with 1.8% in March), non-energy industrial goods (0.8% compared with 1.0% in March) and energy (-0.4% compared with 1.7% in March). (full story)