- Prior +7.4%
- Core CPI +3.5% vs +3.2% y/y expected
- Prior +2.9%
Headline annual inflation may have matched estimates as it crept to a new record high but the more worrying figure is that core inflation (which filters out volatile energy and food prices) also jumped to +3.5% y/y in April, coming in well above estimates.
This will continue to make things rather uncomfortable for the ECB and even if inflation isn't surging, there are still little signs of it cooling off significantly for the time being.
