- Prior +5.1%
- Core CPI +2.7% vs +2.5% y/y expected
- Prior +2.3%
Eurozone inflation soars to new highs and this just adds more pressure to the ECB to communicate a firmer message at next week's meeting. We'll see if policymakers will have the appetite to commit or try to maintain flexibility but the latest figures above just continues to underscore how wrong they were when they talked up their 'transitory' narrative last year.