Eurozone final CPI meets estimates with 0.6% MoM in April

• Eurozone inflation arrives at 1.6% YoY in April.
• Monthly CPI in the bloc rises by 0.6% in April.
• EUR/USD keeps its recovery mode intact around 1.2220 on the data.

According to Eurostat’s final reading of the Eurozone CPI report for April, the consumer prices came in at 1.6% on a yearly basis, meeting the flash estimate of 1.6% and 1.6% expectations. While the core figures dropped to 07%, missing the 0.8% consensus forecasts.       

On a monthly basis, the bloc’s CPI figure for April arrived at 0.6% versus 0.6% expectations and 0.9% previous while the core CPI numbers came in at 0.5% versus 0.6% expected and 0.6% last.