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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
EUROZONE MAR FINAL HICP +0.9% M/M (=FLASH); FEB +_% M/M
EUROZONE MAR FINAL HICP +6.9% Y/Y (=FLASH); FEB +8.5% Y/Y
EUROZONE MAR FINAL CORE HICP +1.3%r M/M (FLASH +1.2%); +5.7% Y/Y (=FLASH); FEB +5.6% Y/Y
- Eurozone HICP was confirmed at flash estimate levels of +0.9% m/m and +6.9% y/y in March (vs +8.5% y/y in February), with core HICP confirmed at a euro-era high of +5.7% y/y. Core HICP was revised up 0.1pp to rise +1.3% m/m.
- Energy inflation cooled considerably (-0.9% y/y after +13.7% y/y in Feb), accounting for the bulk of downwards pressure to headline inflation in March. Non-energy industrial goods also eased, slowing by 0.2pp to +6.6% y/y.
- Upwards pressure came from food/alcohol/tobacco, which quickened by 0.5pp to +15.5% y/y, whilst services inflation accelerated by 0.3pp to +5.1% y/y.
- Despite cooling headline inflation, sticky core HICP remains a key concern for the ECB, after hotter services prices saw core edge up by 0.1pp in the March data. Looking forward, strong service activity flagged by recent PMI data looks set to continue in the near-term, adding to sticky service-inflation troubles.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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