Inflation data was one of the main themes last week. In the UK, inflation slipped in April, rising only 0.10% compared to 0.40% in March. The drop in inflation was widely expected, at least by the Bank of England which said that the increase in March's inflation data was only transitory due to the Easter holidays. In the Eurozone, inflation was back into the familiar deflationary territory with monthly CPI down 0.20%. In comparison, the US inflation data was strongly positive, rising 1.10% yearly.