MNI 5 THINGS: Euro Area March Headline Inflation Revised Lower

--Euro Area HICP +1.3% y/y vs Flash read of 1.4%

     LONDON (MNI) - -Headline March euro area harmonised CPI was revised lower

to 1.3%, below the 1.4% reported in the flash data. It was the first time the

final reading was revised down from the flash estimate since January 2016.

     -Eurozone core CPI, excluding energy, food, alcohol and tobacco, was

unrevised at 1.0%, the third straight month at that level. Core was last higher

in September 2017, when it stood at 1.1% after a brief summer blip to 1.2%.

Energy price rises continue to slow, with March gains at 2.0%, versus 2.1% y/y

and 2.2% y/y in February and January respectively.

     -Core euro area inflation still sits below the eurozone average rate of

1.41% seen between 1997 and 2018 and certainly alone isn't pressuring the ECB

into a hasty ending of the asset purchase program.

     -Although off the lows seen in January (-1.5% y/y), Cyprus continues with

deflationary rates in March, with HICP at -0.4% y/y for the second straight

month. A year ago, inflation in Cyprus was running at 1.5% y/y.

     -Of the leading euro area economies, German harmonised inflation continues

to lead the way, up 1.5% y/y.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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