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MNI: EUROZONE DATA: Flash HICP (Jun 2019) Preview....>

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MNI: EUROZONE DATA: Flash HICP (Jun 2019) Preview - 10:00 BST
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- HICP (y/y): Bbg Consensus: 1.2%; MNI Median: 1.2%; Previous (May): 1.2%
- Core HICP (y/y): Bbg Consensus: 1.0%; MNI Median: 1.0%; Previous (May): 0.8%
- Headline inflation is expected to hold steady at May's 13-month low in Jun
- Core inflation has fluctuated strongly in recent months owing to the later
timing of the Easter and Whitsun holidays this year...
- ... which has meant that seasonal price hikes for package holidays fell in Apr
& Jun this year, rather than in Mar & May as in 2018
- So while core inflation will apply upward pressure to the headline rate in
Jun, this should be offset by weaker y/y energy inflation...
- ... as petrol prices fell between May and Jun, while they rose during the same
period last year
- Available state data supports the market's call for an unchanged EZ reading...
- ... headline HICP held steady in Germany (at 1.3%), rose in France (+0.3pp to
1.4%) & fell in Spain (-0.3pp to 0.6%)

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