Eurozone flash CPI eases to 1.2% y/y in May, misses estimates (EUR unmoved)

According to Eurostat’s flash reading of Eurozone CPI report, the annual reading came in at 1.2% in May, missing expectations of 1.3% and 1.7% previous.

Meanwhile, the core figures also dropped to 0.8% in the reported month when compared to 0.9% expectations and 1.3% previous.

The Eurozone inflation report comes a couple of days after the German Prelim CPI data was released, which showed that the German consumer price inflation accelerated by only 1.4% and remained well below the European Central Bank’s (ECB) rate target of just under 2 percent for the Eurozone as a whole.