Latest data released by INSEE - 29 May 2019
- Prior +0.3%
- CPI +1.0% vs +1.1% y/y expected
- Prior +1.3%
- HICP +0.2% vs +0.3% m/m expected
- Prior +0.4%
- HICP +1.1% vs +1.2% y/y expected
- Prior +1.5%
As expected, the bump higher from Easter seasonality is starting to reverse course now as inflationary pressures settle lower in the month of May. We'll have to wait on the June report to get a more accurate gauge of where inflation is settling in the euro area as the weaker reading here is mostly related to fading of higher inflation in April from Easter.
EUR/USD sits steady at 1.1162 currently, little changed on the day still.
