Italy CPI Surges +2.8% Beat as Eurozone Inflation Tops +3.0% Despite GDP Miss

Eurozone April CPI edged to +3.0% y/y above +2.9% forecast, with Italy's hotter +2.8% y/y and HICP +2.9% versus +2.5% bolstering euro support amid Q1 GDP slowdown to +0.1% q/q missing +0.2%. This caps a volatile week starting with Spain's softer +3.2% CPI miss, firmer German state readings like Bavaria +2.9%, and import prices jumping +3.6% m/m. Mixed inflation upside against weak growth sustains short-term EURUSD swings ahead of ECB scrutiny.