Eurozone CPI (HICP) y/y 

Eurozone Harmonized Consumer Price Index (HICP) 

The CPI is an index designed to measure the change in price of a fixed market basket of goods and services. The market basket of goods and services is representative of the purchases of a typical consumer. Most countries have an alternate measure of inflation where they exclude volatile items, such as food and energy, to arrive at a measure of underlying inflation. Colloquially, this is usually referred to as “core” inflation. Core inflation can be a useful analytical tool. 

Many Central banks explicitly target inflation levels. An acceleration or deceleration of inflation may signal that a change in monetary policy might be appropriate.