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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
Eurozone PPI was a touch higher than expected in June at -3.2% Y/Y (vs -3.3% consensus, -4.1% prior) for a thirteenth successive month of deflation, although the 0.5% M/M was as expected for the first monthly increase since September 2023 (vs -0.2% prior).
- The slowdown in Y/Y deflation was driven by the energy component seeing it's fourth consecutive increase to -9.4% Y/Y (vs -11.3% prior), after the first monthly rise since October 2023 (1.6% M/M vs -1.1% prior).
- Intermediate goods also remained in Y/Y deflation although outright deflation continued to moderate with -2.2% vs -2.9% prior.
- On the other hand, capital goods, durable and non-durable consumer goods continue to see producer prices increase on an annual basis.
- Specifically, capital goods inflation was unchanged at 1.6% Y/Y, whilst both durable and non-durable consumer goods inflation accelerated one tenth to 0.4% Y/Y and 1.2% Y/Y respectively. This suggests the potential for non-energy industrial goods to no longer see further downward pressure in near-term HICP readings.
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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