The miss on estimates would suggest that price pressures are actually tailing off quicker than anticipated, even if a lot of this has to do with the high energy prices from last year being phased out. The downside beat was sort of predicated by Le Maire's remarks here just moments before the release.
The EU-harmonised reading is the lowest since May last year but annual food price inflation remains high at 14.1% - down from 15.0% previously at least.