Latest data released by Eurostat - 1 April 2019
- Prior +1.5%
- Core CPI +0.8% vs +0.9% y/y expected
- Prior +1.0%
After the softer readings seen in France and Germany, the overall headline reading also comes in a tad softer. What's more worrying though is that the core reading actually fell further to just +0.8% y/y compared to the +1.0% y/y reading in February.
If the ECB is trying to persuade markets that it is still on track to reach its inflation target, the data release here isn't a convincing sign. EUR/USD holds steady at 1.1248 currently near the highs for the day as the dollar remains weak. EUR/GBP rather unphased as well at 0.8596, a little lower after the pound got a jolt higher from the PMI release earlier.
