Free Trial

MNI Eurozone Inflation Preview: June 2024

Summer Services Key To September Cut

  • With the ECB’s long-anticipated rate cut on June 6 finally out of the way, the Governing Council’s requirement for further disinflationary progress to make its next reduction puts immediate attention on June’s flash inflation reports due for release between Jun 27-Jul 2.
  • Since the June flash inflation round is split across two weeks, there is not yet a Bloomberg consensus for the Eurozone-wide print. Based on the previews we have seen, analysts expect a 0.1pp deceleration in both core and headline Euro-area inflation in June to 2.8% Y/Y and 2.5% respectively
  • Familiar dynamics in the ongoing broad deceleration in price pressures are expected to be at play: food and core goods inflation should continue to moderate, while services remains sticky (and above the 4.0% handle).
  • Our preview includes analysis of price categories to watch, assessments of underlying inflation trends, outlooks for the French, German, Spanish, and Italian national inflation prints, and sell-side analyst previews.

FOR FULL PDF ANALYSIS:

June2024EZCPIPreview.pdf


To read the full story

Close

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.