US March CPI fell -0.1% m/m and -0.4% y/y, weaker than median forecasts of +0.1% and -0.1% respectively. As I’ve said before the data doesn’t really come as a surprise as global inflationary pressures continue to subside against a backdrop of ongoing global economic weakness.
The March CPI year on year decline is the first since August 1955. Not a very edifying stat and will hardly help sentiment. EUR/USD is continuing lower, presently at 1.3160.
