Eurozone Final CPI rises by 0.3% MoM in April, meets estimates - EUR/USD stays below 1.0950
|- Eurozone Annual inflation arrives at +0.3% in April.
- Monthly inflation in the bloc rises by 0.3% in April.
- EUR/USD keeps its range around 1.0940 on the data release.
According to Eurostat’s final reading of the Eurozone CPI report for April, the consumer prices came in at +0.3% on a yearly basis, missing the flash estimate of +0.4% and +0.4% expectations. While the core figures rose by 0.9% versus +0.9% previous and +0.9% expectations.
On a monthly basis, the bloc’s CPI figure for April increased by 0.3% versus +0.3% expectations and +0.5% previous while the core CPI numbers arrived at +0.7% versus +0.8% expected and +0.8% last.
Key details (via Eurostat):
“The lowest annual rates were registered in Slovenia (-1.3%), Cyprus (-1.2%), Estonia and Greece (both -0.9%). The highest annual rates were recorded in Czechia (3.3%), Poland (2.9%) and Hungary (2.5%). Compared with March, annual inflation fell in twenty-six Member States and remained stable in one. “
“In April, the highest contribution to the annual euro area inflation rate came from food, alcohol & tobacco (+0.67 percentage points, pp), followed by services (+0.52 pp), non-energy industrial goods (+0.09 pp) and energy (-0.97 pp).”
FX implications:
The mixed Eurozone inflation data failed to move the shared currency, as EUR/USD kept its range around the 1.0940 level, gaining 0.20% on the day.
The upside in the euro could be capped by the latest Bloomberg report, citing that the European Union (EU) hardliners, Austria, Denmark, Netherlands and Sweden, are likely to publish a rival economic recovery fund plan later this Wednesday.
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