The Interannual Consumer Price Index (CPI) for the euro zone remained at 7.4% in April, equaling the March figure. The result is one tenth below the 7.5% expected by the market consensus, according to Eurostat.
Monthly inflation has met expectations and has fallen to 0.6% from 2.4% previously, reaching its lowest level since January.
The Annual core CPI has risen to 3.5% from the previous 3% (upwardly revised figure from 2.9%), as estimated. The monthly reading of the indicator is down to 1% vs. 1.1% previously and forecast.
EUR/USD reaction
The EUR/USD it has fallen minutes before the data to its lowest level of the day, 1.0494. Following inflation figures, the pair has risen to around 1.0510/15, but remains negative trading at time of writing above 1.0508, shedding 0.38% daily.
Source: Fx Street
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