Headline inflation eased to 0.6% MoM in April (0.9% prior), as expected, but the annual rate accelerated to 3.8% YoY, marginally exceeding the 3.7% consensus (up from 3.3% in March, see our SA and NSA chart packs for more details). Core CPI (excl. food and energy) advanced 0.4% MoM (above the 0.3% consensus and 0.2% prior), accelerating the annual rate to 2.8% from 2.6%.
For more, please see full note.