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Eurozone CPI up by 0.3%

Wednesday, Jun 17 2015
Euro area annual inflation was 0.3% in May 20152, up from 0.0% in April and in line with prelim reading. The largest upward impacts to euro area annual inflation came from vegetables (+0.09 percentage points), restaurants & cafés (+0.08 pp) and tobacco (+0.07 pp), while fuels for transport (-0.34 pp), heating oil (-0.15 pp) and gas (-0.08 pp) had the biggest downward impacts. 
 
In May 2014 the rate was 0.5%. European Union annual inflation was also 0.3% in May 2015, up from 0.0% in April. A year earlier the rate was 0.6%. After the data euro added few points and is currently being traded few points above 1.1260 level. Pair is likely to find support around 1.12 area and resistance around 1.1330 level. Later today, in the US session, we can expect more volatility with FOMC interest rate decision and following statement being released.
More in this category: « BoE members unanimous in leaving interest rates unchanged Fed provides no clue on interest rate hike »

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