Eurozone CPI accelerated to 1.7% yoy in April, up fro 1.4% yoy and beta expectation of 1.6% yoy. CPI core also accelerated to 1.2% yoy, up from 0.8% yoy and beat expectation of 1.0% yoy.
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in April (5.4%, compared with 5.3% in March), followed by services (1.9%, compared with 1.1% in March), food, alcohol & tobacco (1.5%, compared with 1.8% in March) and non-energy industrial goods (0.2%, compared with 0.1% in March).
Also released, PPI dropped -0.1% mom, rose 2.9% yoy in March, versus expectation of 0.0% mom, 3.0% yoy.
