Consumer prices were revised a little firmer in the final report for April. However, a 0.2 percent monthly rise, up just a tick from the provisional estimate, left the yearly rate at the 1.6 percent previously reported, also matching the final March outturn.
The flash HICP was similarly nudged 0.1 percentage points firmer to yield a 0.2 percent monthly increase but this too had no impact on its annual rate which, at 1.8 percent, was up from a final 1.7 percent print last time.
The stable annual CPI rate reflected no change in inflation in either manufacturing (minus 0.3 percent) or services (1.4 percent). Food (1.6 percent after 1.5 percent) had a positive impact but energy (6.3 percent after 5.0 percent) provided the main boost.
Seasonally adjusted, the CPI was only 0.1 percent higher versus March when it recorded a sizeable 0.5 percent spike. Even so, the annual core rate dipped from 0.9 percent to 0.8 percent, matching its February outturn.
Underlying inflation remains soft and will struggle to move above the 1 percent mark unless the economy picks up some momentum this quarter.