Latest data released by Eurostat - 17 March 2021
- CPI +0.9% vs +0.9% y/y prelim
The preliminary report can be found here. No change to the initial release as this reaffirms a slight drop in consumer inflation after the January bounce - owing to special circumstances such as the VAT change in Germany.
Expect more volatile (with a slight upside bias) readings to follow in the months ahead as base effect adjustments also come into consideration. In any case, the ECB will continue to brush aside any ticks higher given the current economic predicament.