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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
- Eurozone HICP jumped to 2.2% in July from 1.9% in June, confirming the earlier flash estimate, taking inflation to its highest level since October 2018. However, inflation declined by 0.1% between June and July, Eurostat said Wednesday.
- Energy costs rose by an annual rate of 14.3%, adding 1.34 percentage point to inflation.
- Excluding food, energy, alcohol and tobacco, core inflation declined by 0.4% m/m in July, pushing the annual rate to 0.7%, down from 0.9% a month earlier, and well below the ECB's new target of 2.0%.
- ECB President Christine Lagarde has been relaxed about the rise in inflation, stressing that HICP is expected to fall to an annual rate of 1.4% by the end of the Bank's forecast period in 2023.
- However, national central banks, not least the Bundesbank, may be a bit more anxious about rising prices. German inflation rose by 3.1%, up from 2.1% in June, matching the flash estimate.
- French inflation declined to 1.5% from 1.9%, while Italian inflation fell to 1.0% (+1.3% in June) and Spanish prices rose by 2.9% (+2.5% in June).
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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