The Consumer Price Index of the euro zone for the month of April rose 0.6% monthly, as expected, marking the fifth month of positive inflation. The result moderates the one registered in March, of 0.9%.
The interannual CPI increased by 1.6%, meeting forecasts, and exceeding the 1.3% of the previous month. This is the highest annual inflation seen since April 2019.
Monthly core inflation has grown 0.5%, one tenth below the estimated 0.6%, while the year-on-year has stood at 0.7%, below the expected 0.8%.
EUR / USD reaction
EUR / USD rose at the beginning of the European session to 1.2245, its highest level since January 8, when it reached 1.2284. Just before the inflation release, the pair fell to 1.2204, its intraday low. At time of writing, the euro is trading against the dollar above 1.2215, losing 0.05% daily.
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