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Consumer inflation data was published today at 10:00 GMT.
- The headline number showed that inflation slowed to -0.6% YoY & -1.2% mom.
- The lowest annual rates were registered in Greece (-2.8%) and Spain (-1.5%).
- In Germany despite today's positive GDP growth of 0.7% mom, inflation dropped by 0.5% mom.
- Positive annual rates were recorded in Malta (0.8%), Austria and Romania (both 0.5%), Sweden (0.4%) and the United Kingdom (0.3%).
- Inflation fell in almost all EMU states, except for Malta & Austria.
In the outlook for disinflation the European Central Bank (ECB) is about to start the asset purchase. Price is not taking queue from inflation data for now but could be vital in coming months to assess the impact of ECB bond purchase.
Euro is trading at 1.132, still continuing its range of support at 1.127 & resistance at 1.147.
