- Prior +2.2%
- Core CPI +2.7% vs +2.5% y/y expected
- Prior +2.4%
The core reading is the standout here and that will add some challenge for the ECB in trying to communicate a rate cut for next month. Traders are pricing in ~86% odds of that currently, largely due to a softening economic backdrop
Eurozone April preliminary CPI +2.2% vs +2.1% y/y expected