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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.
MNI Eurozone Inflation Insight, Jul'23
MNI Eurozone Inflation Insight, Jul'23
EXECUTIVE SUMMARY
Eurozone July flash headline HICP printed 5.3% Y/Y and -0.1% M/M (vs 5.5% Y/Y and -0.1% M/M prior), roughly in line with expectations. But core HICP was 5.5%, unchanged from June, and a touch above expectations of 5.4%.
- Monthly core HICP and services inflation remained steady at a high rate, but MNI calculations indicate that momentum across all key inflation components fell in July.
- Overall the July report leaves a September ECB hike in the balance, with too little disinflationary progress for comfort, but leaving enough ambiguity about the persistence of price pressures to reconsider further tightening.
- Our review of July's preliminary Eurozone inflation data includes breakdowns and analysis of the national inflation prints, and some sell-side reactions.
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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.
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