Free Trial
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 JUN FLASH CPI +0.3% M/M (= FCST); MAY 0.0% M/M
EUROZONE JUN FLASH CPI +5.5% Y/Y (FCST +5.6%); MAY +6.1% Y/Y
EUROZONE JUN FLASH CORE CPI +0.3% M/M, +5.4% Y/Y (FCST +5.5%); MAY +5.3% Y/Y
- Eurozone June HICP was 0.1pp below consensus estimates in the flash data cooling by 0.6pp to +5.5% y/y. This was the lowest since January 2022, before the inflationary effects of the Russia-Ukraine war.
- Prices accelerated by +0.3% m/m, after having stalled in May.
- Core also was 0.1pp lower than expected, however ticked up to +5.4% y/y (vs +5.3% in May). Stronger services inflation drove this increase, quickening from +5.0% y/y in May to +5.4% y/y in June. This uptick had largely been foreshadowed by yesterday's German data.
- Prices cooled across the remaining key categories, with food down 0.8pp at +11.7% y/y, energy down 3.8pp at a deflationary -5.6% y/y and non-energy industrial goods down 0.3pp at +5.5% y/y.
- On a country basis, annualised CPI rates were lower across all euro-area members barring unchanged in Croatia and an uptick in Germany. The latter saw base-effects of last summer's 9-euro ticket push services CPI up.
- Belgium, Spain and Luxembourg all posted inflation rates below the 2% ECB target threshold, yet the uptick in core CPI confirms the ECB's current hawkish stance, with markets looking for a very likely July hike.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok