EU inflation cools but longterm outlook uncertain Inflation slowed slightly in Europe in April; in the 17-member eurozone it is now 2.6 percent, still above the ECB's 2 percent limit, although it is projecting the figure to be below that next year. However consumer confidence has fallen by more than expected, and core inflation, stripping out volatile costs like energy, actually rose. It all argues for the ECB keeping rates on hold when it meets on May 3, although that, along with the 1 trillion euros in extra liquidity pumped into the system in the last 12 months, may have implications for inflation in the long term. More about: ECB, European Union, Eurozone, Inflation