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Free AccessMNI: Euro Area HICP Dips to 1.2% in April; Core......>
MNI: Euro Area HICP Dips to 1.2% in April; Core HICP Falls Sharply to 0.7%
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Flash estimate provided by Eurostat Thursday reported inflation likely came in
at 1.2% in April, down from 1.3% in March and below the market's no change
forecast. More surprising, however, was the 0.3pp slide in core HICP to 0.7%
y/y. While the flash estimate only provides a basic breakdown of the numbers, it
was clear that services was the main culprit, dragging on both HICP and the core
measure. Services prices were up 1.0% y/y after a 1.5% rise in March, enough to
offset higher food and energy prices and drag down overall HICP. We suspect the
services slide was attributed at least in bulk to this year's earlier Easter,
which would have generated a negative base effect across Easter core-services
like transport, package holidays and hotels and restaurants.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.