Euro area inflation in March was confirmed at 0.6% MoM and 2.2% YoY, down from 2.3% YoY in February.

• Core inflation was confirmed at 1.0% MoM and 2.4% YoY.
• Energy was revised down -0.3 ppts to -1.0% MoM offsetting an upward revision in services which put the annual rate 0.1 ppts above the initial estimate of 3.4% YoY.

• Services still accounts for over 20% of inflation, but the contribution has fallen to 1.56 ppts as of March.