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MNI Eurozone Inflation Preview – June 2023

MNI Eurozone Inflation Preview – June 2023

MNI Eurozone Inflation Preview – June 2023

EXECUTIVE SUMMARY

Eyeing Sticky Core Prices Amid Statistical Quirks

Eurozone annual headline inflation is expected to continue declining in June’s flash estimate due out June 30th, with Bloomberg consensus at 5.6% Y/Y (vs 6.1% prior). However, core is seeing accelerating to 5.5% Y/Y (vs 5.3% prior), following two months of disinflation.

  • As our momentum series indicate (see page 5), while goods and commodity price pressures are subsiding, they are picking up for services – the latter of which was the 2nd biggest contributor to May’s print (behind food).
  • Our preview includes analysis of several key areas to watch, short outlooks for the national inflation prints prior to the eurozone release, and sell-side analyst previews.

FOR FULL PDF ANALYSIS:

Jun2023EZCPIPreview.pdf



Source: Eurostat, ECB, MNI Calculations

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