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EZ Flash Inflation Higher Again in April

EUROZONE DATA
MNI (London)

EZ APR FLASH HICP +0.6% M/M; +1.6% Y/Y; MAR +1.3% Y/Y

EZ APR FLASH CORE HICP +0.6% M/M; +0.8% Y/Y; MAR +0.9% Y/Y

  • EZ inflation rose further to 1.6% in Apr, in line with market expectations (BBG: +1.6%), marking the highest level since Apr 2019.
  • Core inflation decelerated to 0.8% in Apr, also confirming market forecasts and showing the lowest level since Dec 2020.
  • Apr's uptick was driven by a sharp increase of energy inflation, rising by 10.3% in Apr.
  • This marks the second successive positive rate, as energy prices are compared to the unusually low levels seen in 2020 at the beginning of the pandemic.
  • While non-energy industrial goods prices ticked up to 0.5%, service and food inflation slowed to 0.9% and 0.7%, respectively.
  • Among the member states, Luxembourg (3.3%), Lithuania (2.4%) and Germany (2.1%) recorded the largest rates, while Greece (-0.8%) and Portugal (-0.1%) saw a decline in consumer prices.
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
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