Eurozone CPI prints in line with estimates

According to the flash estimate of Eurostat, Eurozone Harmonized Index of Consumer (HICP) inflation fell at an annual rate 0.1% in March as expected.

The previous figure stands unrevised at -0.2%. The core rate, excluding volatile food and energy prices was 1.0% Y/Y in March, Eurostat estimated, above the previous month’s figure of 0.8%.

Inflation has not come near the ECB’s goal of just under 2% since 2013. In response to persistently low inflation, the ECB will on Friday boost monthly bond purchases to EUR 80 billion from EUR 60 billion.