The Eurozone May CPI data came in as expected, with no surprises in the inflation figures. This may have a neutral impact on the Vanguard FTSE Europe ETF (VGK) as the market has likely already priced in the expected data. The relevance is 75 as VGK is an ETF that tracks European stocks, and the importance is 60 as inflation data can influence market sentiment. The confidence level is 85 as the data is in line with estimates and should not cause significant price movements.