Consumer prices were revised a little softer in the final data for May. The CPI now shows no change versus its final April level, down a tick from its provisional estimate. However, this still left the yearly inflation rate at 0.8 percent, as previously reported, and 0.4 percentage points short of its final reading last time.
The HICP was similarly trimmed 0.1 percentage points to yield a flat monthly performance and an unrevised 0.9 percent annual rate, off 0.5 percentage points from April.
The monthly change in overall consumer prices was boosted by food (0.7 percent) but this effect was roughly offset by weaker energy (minus 1.5 percent). Manufactured goods saw just a 0.1 percent increase while services were flat. Seasonally adjusted, the CPI fell 0.2 percent versus the start of the quarter within which the core component was unchanged. Even so, the annual underlying rate still eased a tick to 0.4 percent.
The final May CPI data confirm a still very subdued picture of underlying inflation pressures.