- Prior +5.3%
- Core CPI +5.3% vs +5.3% y/y expected
- Prior +5.5%
The good news for the ECB here is that core inflation met estimates in August and is seen easing slightly from July. But it is still holding higher close to the peak of 5.7% in February. The euro is slipping further on the data here with odds of a 25 bps rate hike now falling to ~31%.