Euro zone inflation will ease in the coming months after price pressures fell to their lowest in over three years in April, an indicator designed to predict cyclical trends showed.

The Eurozone Future Inflation Gauge (EZFIG), published by the Economic Cycle Research Institute, dropped to a 38-month low of 91.1 from 92.2 in March, as similar national indicators fell in Germany, France, Italy and Spain.

"The EZFIG declined further in its latest reading to a 38-month low, suggesting that euro zone inflation will stay in an easing trend in the months ahead," said Lakshman Achuthan, ECRI's chief operations officer.

However, inflation in the 17-nation bloc nudged up to 1.4 percent last month from a three-year low of 1.2 percent in April, flash data showed last week.