- Prior +3.0%
- HICP +2.4% vs +2.8% y/y expected
- Prior +3.2%
The drop is definitely encouraging and reaffirms that the ECB is well on track to cut rates this June. Looking at the details, food price inflation fell from 3.6% in February to 1.7% in March. Meanwhile, services inflation also eased a bit more from 3.2% in the last month to 3.0% this month.
