EZ CPI
  • Prior +7.0%
  • Core CPI +5.3% vs +5.3% y/y prelim
  • Prior +5.6%

There are no changes to the initial estimates as euro area headline annual inflation is seen dropping further in May. The good news is that core annual inflation is also starting to ease and is that a sign of a meaningful turnaround in price pressures? We'll have to wait and see.