A lot of focus on this preliminary release given the Eurozone’s reading tomorrow and the ECB’s “low inflation” concerns with next week’s policy meeting looming large.

Expectations are :

  • HICP m/m -0.1% vs +0.3% prev. y/y +1.3% vs +0.9% prev
  • CPI m/m -0.1% vs +0.3% prev. y/y +1.4% vs +1.0% prev

Regional data this morning has shown lower m/m and higher y/y so we shall see how that reflects in the national figures

  • Saxony CPI April m/m -0.1% vs +0.3% prev. y/y +1.3% vs +0.9% prev
  • Hesse m/m -0.2% vs +0.3% prev y/y +1.3 % vs 1.0% prev.
  • Bavaria m/m -0.2% vs +0.3% prev y/y +1.0 % vs +0.9% prev
  • Brandenburg m/m -0.1% vs +0.2% prev y/y +1.3% vs +1.0% prev
  • North Rhine Westpalia CPI April m/m -0.1% vs +0.3% prev y/y +1.7% vs +1.4% prev
  • Baden-Wuerttenberg CPI m/m unch y/y +1.4%

EURUSD currently 1.3858 EURJPY 142.34 EURGBP 0.8242