According to the flash estimates released this Tuesday, the Euro-zone consumer inflation, as measured by the headline CPI, is seen rising 2.1% y/y in July, slightly higher than 2.0% expected. Meanwhile, the core CPI also bettered market expectations and ticked higher to 1.1% yearly rate in the reported month as compared to 0.9% previous.
Key Details (via Eurostat):
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (9.4%, compared with 8.0% in June), followed by food, alcohol & tobacco (2.5%, compared with 2.7% in June), services (1.4%, compared with 1.3% in June) and non-energy industrial goods (0.5%, compared with 0.4% in June).
This Euro-zone inflation report comes a day after the German Prelim CPI data was released, which showed that the German consumer price inflation rose at a slightly slower than expected pace of 0.3% in July, albeit the yearly rate held above the European Central Bank’s (ECB) target of just under 2% for the region.
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