Euro area core inflation data likely to confirm flash estimate of 1.1 pct in July
Source: FxWire Pro - Commentary / 14 Aug 2018 16:26:51 America/New_York
Headline inflation for euro area nations in July confirmed the flash estimates. The EU-harmonized measures of inflation for Germany, France and Spain came in at 2.1 percent, 2.6 percent and 2.3 percent year-on-year, respectively. Similarly, the equivalent Italian data released yesterday showed an unrevised headline rate of 1.9 percent year-on-year on the EU measure.
However, there remains a decent possibility of an upwards revision to the euro ahead headline inflation rate given that the preliminary estimate of 2.149 percent year-on-year came within a whisker of 2.2 percent year-on-year, noted Daiwa Capital Market Research in a report.
“The annual rate of core CPI - arguably of more interest to the ECB as it awaits a sustained uptrend in underlying inflationary pressure - is set to be confirmed at the flash estimate of 1.1%Y/Y”, added Daiwa Capital Market Research.
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