Headline inflation was unchanged at 2.4% y/y, while core inflation declined slightly less than expected. That should be enough for the ECB to keep its guidance of a June rate cut. GDP growth surprised to the upside in Q1. Headline inflation remained unchanged at 2.4% y/y in April, in line with consensus expectations. The main drivers were a continued decline in core inflation to 2.7% y/y in April, down from 2.9% y/y in March though slightly less than consensus expectations at 2.6% y/y. Energy and unprocessed food prices pushed the other way. The decline in core inflation was equally distributed between core goods ... (full story)