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Harmonised Inflation Rate MoM held to 1.7 in April 2026. The print came in hotter than the 1.3 consensus, a hotter print than forecasters anticipated. The print is running well above the 12-month average of 0.17. Over the past 3 months, Harmonised Inflation Rate MoM averaged 0.4, vs -0.04 in the prior 3-month window. Harmonised Inflation Rate MoM is now the highest in 18 months.
The April 2026 reading was unchanged from the previous value of 1.7. Historically, this indicator is positively correlated with S&P 500 (Bullish S&P 500) and positively correlated with DAX (Bullish DAX).
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| Tuesday, May 12, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 08:00 | Industrial Production YoY | 1.5 | 0.4 | 0.7 | 1.40 | Low | |
| 08:00 | Industrial Production MoM | 0.7 | 0.2 | 0.2 | 0.42 | Medium | |