Euro-Area Inflation Accelerates After String of Upbeat Data

• Consumer prices in the euro area rose 1.7% in April, the strongest since November, with core inflation, which strips out volatile food and fuel prices, jumping to 1.2%.
• Both readings beat economists’ estimates, and coupled with other recent more-positive-than-expected economic data for the region can be seen as good news for European Central Bank President Mario Draghi, who was resisting adding more stimulus. 
• Bundesbank President Jens Weidmann said in a speech ahead of today’s numbers that “much suggests that the economy is only experiencing a temporary weak phase and will pick up speed again after its soft patch.”

 (Source: Bloomberg)