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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
EUROZONE JUL PPI +4.0% M/M (FCST +3.7%); JUN +1.3%r M/M
EUROZONE JUL PPI +37.9% Y/Y (FCST +37.3); JUN +36.0%r Y/Y
- Eurozone factory-gate inflation jumped by +4.0% m/m in July, the fastest pace since +5.3% m/m in March at the onset of the Ukraine war.
- Diving into the detail of the report highlights optimistic improvements in core readings. Excluding energy, PPI grew by a substantially softer +0.6% m/m, and slowed in the annualised reading by 0.6pp to +15.1% y/y to a four-month low.
- Yesterday's manufacturing PMIs highlighted manufacturing input and output costs softening further. As demand slows and supply-chain pressures ease, PPI should come down further in upcoming months. This supports a slowdown in headline inflation going forward and will be welcome news for the ECB as CPI is yet to ease at +9.1% y/y.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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