Eurozone Preliminary CPI rises 0.4% YoY in April, beats estimates
According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at +0.4% in April, meeting expectations of +0.1% and +0.7% previous.
Meanwhile, the core figures rose 0.9 % in the reported month when compared to 0.7% expectations and 1.0% previous.
Separately, Eurozone March Unemployment Rate arrived at 7.4% vs 7.7% expected and 7.3% previous.
Key details (via Eurostat):
“Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in April (3.6%, compared with 2.4% in March), followed by services (1.2%, compared with 1.3% in March), non-energy industrial goods (0.3%, compared with 0.5% in March) and energy (-9.6%, compared with -4.5% in March).”
The Eurozone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by 0.8% in April and remained well below the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
