February EZ HICP final 0.7% vs 0.8% exp y/y

• Prior 0.8%
• 0.3% vs 0.4% exp m/m. Prior -1.1%
• Ex food & energy 1.1% vs 1.0% exp y/y. Prior 1.0%
• 0.4% vs 0.4% exp m/m. Prior -1.4%
• Ex everything 1.0% vs 0.8% prior y/y
• 0.5% vs -1.7% prior m/m

The headline number drops but the more important core inflation numbers rise. EUR/USd is marginally off 8 pips from 1.3897.

EZ HICP final 17 03 2014

That should keep the interest rate cut wolves from the door for a bit longer.