In corporate news, German industrial heavyweight Siemens announced a new €6 billion share buyback program to be carried out over the next five years, following the release of first-quarter profits of €2.03 billion.

On the macroeconomic front, investors will be watching Eurozone GDP, employment, and industrial production data for further insight into the region’s economic outlook. Market participants also continued to track developments in the Middle East, where diplomatic efforts to end the US–Iran war have made limited headway, while hotter-than-expected US inflation figures have reinforced concerns about a more restrictive Federal Reserve policy stance.

In premarket trading, Euro Stoxx 50 futures rose 0.9%, while Stoxx 600 futures were up 0.7%.

Prices also declined at a faster pace in several categories: information and communication (-2.1% vs -1.8%), recreation, sport and culture (-2.4% vs -0.6%), and health (-5.3% vs -4.6%). In contrast, the declines in prices for housing and utilities (-0.1% vs -0.4%) and for furnishing, household equipment and routine household maintenance (-2.0% vs -3.6%) were less pronounced than in the previous month.

Meanwhile, transport costs rose more rapidly (5.2% vs 3.3%), reflecting higher energy prices linked to the conflict in the Middle East. On a monthly basis, the CPI declined by 0.6%, the same rate as in March.

The consumer price index with a fixed interest rate (CPIF), the Riksbank’s target measure, increased by 0.8% year-on-year in April, the smallest rise since December 2020 and down from a 1.6% gain in March.

By contrast, inflation eased for food products (7.39% vs 7.67%), reflecting slower price growth for milling and bakery products (7.82% vs 8.60%), fruit and tinned fruit (9.61% vs 11.79%), and meat and meat products (5.98% vs 6.46%). On a monthly basis, consumer prices increased by 0.84% in April, following a 0.78% rise in March. Meanwhile, the HICP-based annual inflation rate climbed to 9.5%, from 9% in the previous month.

However, the rupiah’s rebound remained limited as the US dollar index strengthened following hotter-than-expected US inflation data, which dampened expectations for imminent Federal Reserve rate cuts. President Prabowo recently criticized Bank Indonesia Governor Perry Warjiyo over the rupiah’s weakness and endorsed seven new policy measures, including tighter foreign-exchange regulations and liquidity adjustments. Despite the latest support, the rupiah is still down about 4.6% so far this year, pressured by soft economic fundamentals, declining foreign-exchange reserves, fiscal constraints, and ongoing capital outflows.

The figures, measured on a month-over-month comparison, show that April’s decline in prices mirrors the change recorded in the previous period. In both cases, the indicator compares price movements in a given month with those of the immediately preceding month, underlining a continued short-term deflationary trend in Sweden’s consumer price dynamics.

Both the current and previous readings are measured on a year-over-year basis, comparing April 2026 wholesale prices to those of April a year earlier. The move from 4.1% to 6.3% suggests that input and intermediate goods costs are rising at a faster pace, a development that can eventually feed through to consumer prices and corporate margins.

The strengthening in wholesale inflation will likely draw attention from businesses and policymakers alike, as it may signal persistent cost pressures within Germany’s supply chains going into the next quarter.

The figures are calculated on a year-over-year basis, comparing each quarter’s performance with the same period a year earlier. The latest reading shows that momentum weakened considerably at the start of 2026 after having effectively stalled at the end of 2025, raising concerns over the durability of Romania’s recent growth trend and signaling increased headwinds for the economy in the months ahead.

Both figures are calculated on a year-over-year basis, comparing each month’s price levels with those of the same month a year earlier. The latest increase suggests that the brief respite in March’s inflation pressures has reversed, underscoring the persistence of elevated price growth in the Romanian economy. Investors and policymakers will now be watching subsequent data closely to assess whether April’s move represents a renewed upward trend or a short-term fluctuation in the inflation path.

The comparison is made on a year-over-year basis, meaning April 2026 price levels are measured against those of April 2025. Similarly, the prior figure of 0.8% was calculated as a comparison of the previous month’s prices to the same month a year earlier. The unchanged reading suggests that underlying inflationary pressures, once adjusted for interest-rate effects, have neither accelerated nor cooled further over the latest period.

For markets and policymakers, the flat CPIF print at a relatively low level points to a broadly stable inflation environment. With price growth holding at the same pace as the previous comparison period, the April data offer no immediate signal of a significant shift in Sweden’s inflation dynamics.

The month‑over‑month comparison shows that the “actual” figure for April reflects the change from March to April, while the “previous” figure captures the change from February to March. With both readings at -0.6%, the data point to a persistent short‑term decline in prices rather than a one‑off move, underscoring ongoing disinflationary trends in the Swedish economy. Investors and policymakers are likely to watch upcoming releases closely to assess whether this negative price momentum extends into subsequent months.

The CPIF ex energy indicator measures how prices in April 2026 compare with those in April 2025, offering a clearer view of core inflation trends. The shift from 1.10% in March to flat price growth in April suggests that underlying inflationary momentum has largely stalled on an annual basis, potentially influencing expectations around future monetary policy and economic conditions in Sweden.

The year-over-year comparison framework means that both the previous and current readings gauge changes against the same months a year earlier—March 2025 and April 2025, respectively. This provides a consistent backdrop to assess how quickly inflationary pressures are fading in the Swedish economy.

The CPIF ex energy measure strips out volatile energy components and is closely watched as a gauge of core inflation dynamics. The steeper month-on-month drop suggests that price increases in other parts of the consumer basket have moderated further, adding to evidence that underlying inflationary momentum is cooling.

On a month-over-month comparison basis, the “actual” April figure reflects the change from March to April 2026, while the “previous” figure captures the change from February to March 2026. With both months showing negative readings and April’s decline deepening, the data may reinforce expectations that inflationary pressures in Sweden are continuing to recede.

The latest data, updated on 13 May 2026, indicate that while Sweden remains in negative inflation territory on an annual basis, the pace of price declines has moderated. The previous figure, also relating to April 2026 on a year-over-year comparison, had shown a steeper 0.2% drop, suggesting tentative signs that downward price pressures may be stabilizing.

For policymakers and markets, the narrowing gap in negative CPI readings could signal a gradual shift away from more entrenched deflationary risks, although the persistence of sub-zero inflation highlights ongoing challenges for Sweden’s price dynamics and demand environment.

On a month-over-month basis, the current 2.0% reading reflects how wholesale prices in April compared with March, while the previous 2.7% figure measured the change from February to March. The deceleration suggests some cooling in upstream price dynamics, which markets often watch closely for potential implications for broader inflation trends and corporate pricing power.

The data are based on month‑over‑month comparisons: the current 0.3% figure reflects the change in March versus February, while the previous -0.4% reading captured the shift from January to February. The turnaround suggests that, after a brief setback at the start of the year, Romanian industry has regained some momentum heading into the second quarter of 2026.

Both figures are measured against the same months a year earlier, indicating that the downturn has not only persisted but intensified as the first quarter progressed. The move from a 1.5% to a 2.2% annual decline suggests that headwinds facing Romanian industry—such as softer external demand or domestic cost pressures—may be becoming more entrenched rather than easing.

The deepening contraction in industrial production is likely to weigh on Romania’s broader economic performance in the near term, particularly if the negative trend extends into the second quarter, as industrial output remains a key component of overall growth and export capacity.

Sentiment was further weighed by domestic data showing that business inflation expectations rose to 2.53% in Q2, the fastest quarterly increase since Q4 2023. Investors also stayed cautious ahead of New Zealand’s food inflation figures and manufacturing PMI, both scheduled for release later this week.

Globally, markets were also attentive to potential developments from a possible meeting between US President Trump and Chinese President Xi Jinping later in the week.

Sector-wise, technology, communication services, and financials led the declines on the NZX 50. Notable laggards included AFC Pharmaceuticals (-6.7%), Westpac Banking Corp. (-4.5%), ANZ Group (-2.6%), Infratil (-1.5%), and Auckland International Airport (-1.3%).

By age group, unemployment among 25–49-year-olds rose to 7.3% from 6.9%, while the rate for those aged 50 and over inched up to 5.2% from 5.1%. In contrast, unemployment among 15–24-year-olds declined slightly, to 21.1% from 21.5%.

By gender, the unemployment rate for men increased to 8.5% from 8.2%, and the rate for women edged up to 7.7% from 7.6%.

The uptick from the previous 7.9% reading in Q4 2025 suggests that hiring momentum may be cooling, potentially reflecting early-year economic headwinds. While the shift is modest, it will be closely watched by policymakers and investors as they assess the strength of domestic demand and the resilience of the broader French economy.

In contrast, prices declined for insurance and financial services (-3.1% vs -3.4%) and for housing and utilities (-0.3% vs 1.2%), even as heating oil costs continued to surge (72% vs 41.7%). On a monthly basis, consumer prices rose 0.1%, a slowdown from the 0.7% increase recorded in March. Harmonized consumer prices— the European Central Bank’s preferred inflation gauge—were up 2.4% year-on-year, slightly below the 2.5% rate seen in the previous month.

Household-related indicators weakened markedly, pointing to softer spending conditions as consumers became more cautious in the face of higher living costs and external risks. The corporate activity index also fell, weighed down primarily by weakness in the non-manufacturing sector, while employment conditions deteriorated further, signaling a slowdown in hiring momentum among service-sector firms.

By contrast, the economic outlook index, which gauges sentiment for the months ahead, inched up to 39.4 from March’s more than five-month low of 38.7. This modest improvement suggests that some respondents expect conditions to stabilize, even as uncertainty remains elevated.

The data, measured on a month‑over‑month basis, show that while prices were still edging higher in April, the pace of increase was significantly weaker than in the previous month. In March, the 0.70% gain reflected a much stronger pickup compared with February, but April’s reading suggests that upward price pressures have moderated considerably as spring progressed.

For policymakers and markets, the steep slowdown from March to April will likely be interpreted as a sign that recent inflationary impulses are easing. Although no breakdown by category is provided, the headline move alone points to a more subdued pricing environment heading into the remainder of the second quarter of 2026.