Eurostat, the European Union’s statistical office, released its preliminary estimate for March, showing that annual inflation in the Eurozone rose to 2.5%, up from 1.9% in February. This figure fell short of market expectations, which had anticipated a rise to 2.6%.

The largest contributor to inflation in September was the energy sector, which saw a 4.9% increase after a 3.1% decline in February. Services rose to 3.2% from 3.4% in February, while the food, alcoholic beverages, and tobacco sector index climbed to 2.4% from 2.6%. The non-energy industrial goods index also rose, increasing by 0.5% from 0.7%.

The core index, which excludes food and energy prices, slowed to 2.3% from February’s 2.4%, falling below market expectations.