Final April euro area inflation print to confirm flash estimates at 0.0% yoy

Although the final Italian and Spanish HICP readings were trimmed a bit, the final euro area aggregation number is not expected to change significantly. 
Euro area flash HICP inflation printed at 0.0% yoy in April after March's -0.1%. The core component remained unchanged at 0.6% yoy. 

Food, alcohol and tobacco prices rose from 0.6% yoy in March to 0.9% in April, adding 6bp to the headline number. Non-energy industrial goods prices rose from 0.0% to 0.1% yoy, contributing 3bp, while energy prices stopped slowing, improving to -5.8% yoy from -6.0% yoy, adding 2bp. 

The services component fell from 1.0% yoy to 0.9% in April, cutting 4bp off the headline reading. "For the linkers market, for the EA HICP extobacco currently stands at 117.48. Looking ahead, HICP inflation is likely to average around 0.3% in 2015 and 1.6% in 2016, while the core gauge should average 0.7% in 2015 and 1.1% in 2016" according to Societe Generale.