Stubborn inflation, weak lending weigh on eurozone

David McHugh - The Associated Press

FRANKFURT, Germany (AP) — Europe got more downbeat economic news Monday as inflation remained higher than expected and European Central Bank data showed only anemic growth in credit to businesses — despite its massive infusion of cheap money into the financial system.

Inflation in the 17 countries that use the euro fell to an annual 2.6 percent in April, down from 2.7 percent in March but higher than the 2.5 percent expected by market analysts.

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April 30, 2012