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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
Eurozone HICP surged to an annual rate of 3.0% in August, according to flash data released by Eurostat on Tuesday, far exceeding analysts' expectations of a jump to 2.7% from 2.2% in July.
- That matches the highest rate of inflation since November 2011; inflation hasn't been higher since touching 3.2% in October 2008.
- Energy prices accounted for much of the increase, rising by 1.0% between July and August and by 15.4% over the same month 2020. Excluding energy, food, alcohol and tobacco, core inflation surged to an annual rate of 1.6% from 0.7% in July, but remained below the European Central Bank's 2.0% target.
- The higher-than-expected result follows a string of upside surprises in member-state inflation rates.
- The outturn could lead to some vigorous debate at next week's European Central Bank meeting, with some central bank heads publicly querying the ECB forecast of transient above-target inflation.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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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