July 31, 2024 09:00 GMT
MNI BRIEF: EZ Headline Inflation Edges Higher In July
Headline inflation inches higher in July, muddying water for ECB.
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MNI (LONDON) - Headline inflation across the euro area edged higher in June, flash data released by Eurostat Wednesday showed.
Inflation ticked up to 2.6% year-on-year from 2.5% in June, the data showed, with the main core inflation again unchanged at 2.9% y/y. Services inflation edged lower to 4.0% y/y, with core goods inflation edging higher to 0.8%, despite a sharp 2.6% decline month-on-month.
The ECB will eye the data carefully before the September meeting, but will get a closer look at the final monthly data and the preliminary August data before a decision on whether or not to cut again needs to be made.
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