March 31, 2023 08:13 GMT
March Inflation Moves Ahead of EZ Flash Print at 1000 BST
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Consensus expects Eurozone flash March HICP to rise +1.1% m/m, whilst cooling by 1.4pp to +7.1% y/y. Slowing energy prices and base effects will have largely accounted for the deceleration in annualised HICP, whilst the m/m growth implies that short-term price pressures remain acute.
- National flash CPI data released so far puts an uptick in core CPI on the table, following the fresh euro-era high of +5.6% y/y recorded in February. Consensus is currently looking for a 0.1pp acceleration.
- Flash PMI data largely alluded to cooling price pressures, yet the strong service activity boost continues to underline service-inflation troubles, underpinning hawkish ECB rhetoric.
See PDF for overview of national HICP and core CPI developments in March flash data: