Latest data released by Eurostat - 30 April 2021

  • Prior +1.3%
  • Core CPI +0.8% vs +0.8% y/y expected
  • Prior +0.9%

The jump in the headline reading owes to base effect adjustments due to the crash in energy prices in April last year due to the pandemic impact at the time.

However, the core reading shows that inflation pressures aren't really going anywhere and that won't convince the ECB to change its current policy stance whatsoever.