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March Final HICP Print Likely to be Confirmed at  +6.9% Y/Y

EUROZONE DATA
MNI (London)
  • The final March print is expected to confirm that Eurozone HICP cooled by 1.6pp to +6.9% y/y, with prices rising +0.9% m/m. Despite easing headline (annualised) inflation, core HICP remains a key concern for the ECB, after hotter services prices saw core edge up by 0.1pp to a fresh euro-era high of +5.7% y/y.
  • Since the flash release, final eurozone national HICP prints have largely confirmed flash levels. A revision to the aggregate Y/Y print is unlikely, after the upwards revision to France HICP was largely cancelled out by downwards revisions to Italy and Finland.
  • There is an outside chance of a minor upwards revision to the M/M aggregate print, after French, Austrian and Slovakian rates were revised marginally higher.


Source: MNI / Local Statistics Offices

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