Aline Schuiling, Sr. Economist at ABN AMRO, points out that considering the June inflation data from European countries already released, the preliminary Eurozone CPI, due on Friday, is likely to be at 1.2% in June.
Key Quotes:
“Eurostat will publish the first estimate for eurozone inflation on Friday. The data for the three individual countries suggest that headline inflation stabilised at 1.2% while the core rate increased to 0.9% from 0.8%.”
“Looking further ahead, we expect core inflation to continue to hover around 1% during the rest of this year and next against the background of weak economic growth. Headline inflation, in contrast, should decline in the coming months on the back of a decline in energy price inflation on the back of base effects in oil prices.”
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