Eurozone Preliminary HICP inflation steadies at 2% YoY in July vs. 1.9% expected
Source Fxstreet
The Eurozone Harmonized Index of Consumer Prices (HICP) rose 2% over the year in July, at the same pace seen in June, the official data released by Eurostat showed Friday.
The market forecast was for a 1.9% print.
The core HICP advanced 2.3% year-over-year (YoY) in July, following a 2.3% growth in June, below the 2.2% estimates.
On a monthly basis, the bloc’s HICP inflation arrived at 0% in July, compared with June’s 0.3%.
The core HICP dropped 0.2% month-over-month (MoM) in the same period, following a 0.4% growth in June.
The European Central Bank’s (ECB) inflation target is 2.0%. The old continent’s HICP inflation data significantly impacts the market’s pricing of the ECB's future interest rate cuts.
Key details from the Eurozone inflation report (via Eurostat)
more to come ...
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