Eurozone flash CPI rises to 1.7% y/y in April, beats estimates (EUR unmoved)

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at 1.7% in April, beating expectations of 1.6% and 1.4% previous.

Meanwhile, the core figures also rose to 1.2% in the reported month when compared to 1.0% expectations and 0.8% previous.

Key Details (via Eurostat):

“Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in April (5.4%, compared with 5.3% in March), followed by services (1.9%, compared with 1.1% in March), food, alcohol & tobacco (1.5%, compared with 1.8% in March) and non-energy industrial goods (0.2%, compared with 0.1% in March).”

The Eurozone inflation report comes a couple of days after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated and bettered expectations in April, although remained in line with the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.