CPI data for the eurozone as a whole is due Tuesday

  • Headline CPI is expected at 0.2% m/m (prior 0.6%) and 1.9% y/y (prior 1.6%)
  • The core reading is expected at 0.9% y/y (prior 0.7%)

Brief thoughts from Scoita, analysts there looking for:

  • A milder pace of increase in headline prices is expected (~0.2% m/m)
  • while core inflation may have bottomed and begin a mild rise back toward 1% y/y

Westpac, too, say the underlying pace muted.

ING:

  • a key figure for next week because it's the last major data point ahead of the closely watched European Central Bank meeting on 10 June.
  • Expect it to rise further on base effects but also look for the reopening impact on services inflation and input shortages working their way through to goods inflation figures.
  • Selling price expectations among manufacturing businesses are at an all-time high, meaning that some passthrough can be expected over the coming months.