Eurozone: HICP inflation to increase to 1.7% in May - Nomura

Analysts at Nomura expect the flash estimate of euro area HICP inflation to increase to 1.7% y-o-y in May from 1.2% in April.

Key Quotes

“This increase stems from a positive impact from a higher oil price and the unwinding of seasonal distortions caused by the timing of the Easter holidays. The unwinding of seasonal distortions is also the main reason why we expect core inflation to increase to 1.1% y-o-y in May from 0.7% in April.”