Latest data released by Eurostat - 3 May 2019
- Prior +1.4%
- Core CPI +1.2% vs +1.0% y/y expected
- Prior +0.8%
The notable thing about the report here is that the core reading jumps to a six-month high as it rebounds strongly in April. But as highlighted earlier, there is an upside bias already built into the report due to Easter seasonality so I would brush this aside to that and wait on May and June readings before coming to a conclusion whether or not inflationary pressures are seen to be sustainable.
EUR/USD is barely moved on the report here despite the positive beat as this is very much expected since Tuesday. Price holds at 1.1163, still in a narrow range on the day.
