The annual change in the flash estimate of the CPI stands at 3.2% in May, nine tenths less than the one registered in April The annual rate of the flash indicator of underlying inflation decreases five tenths, to 6.1% The annual rate of the flash indicator of the HCPI is 2.9% Annual rate evolution The estimated annual inflation of the CPI in May 2023 is 3.2%, according to the flash indicator prepared by the NSI. This indicator provides a preview of the CPI which, if confirmed, would mean a decrease of nine tenths in its annual rate, since in April this variation was 4.1%. This development is mainly due to the ... (full story)

The headline reading and the EU-harmonised reading will be a welcome development for the ECB. And with core annual inflation also seen dropping to 6.1% - down from 6.6% previously - that should help brighten the prospects of the euro area economy, if other countries also show a similar trend. That said, do keep in mind that a lot of this is still to do with the higher energy prices last year being phased out. (full story)