Eurozone March preliminary CPI +6.9% vs +7.1% y/y expected | Forexlive

• Prior +8.5%
• Core CPI +5.7% vs +5.7% y/y expected
• Prior +5.6%

Headline annual inflation sees a notable dip but once again, there is a very important caveat associated with that. The base effects adjustment due to the spike in oil prices last year as a result of the Russia-Ukraine conflict is the main reason why the year-on-year figure has come down. Looking over to core annual inflation, it is higher than in February to set another record in the euro area.