Forex - Data: Preview due 30 August - flash August Eurozone HICP expected to rise to 1.1% y/y


 13:19 (GMT) 22 Aug

  [Economic Data]

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Eurozone HICP inflation is expected to edge higher in August to 1.1% from 1.0% recorded in July. Similarly, core inflation, i.e. excluding energy, food, alcohol and tobacco, is set to move from 0.9% in July to 1.0% in August. Both headline and core inflation thus remain well below the ECB's "close to but below 2%" target.

Data: Preview due 30 August - flash August Eurozone HICP expected to rise to 1.1% y/y (0101-NQMS-C01)

We expect the negative base effects of lower energy prices to continue compress goods inflation but less so than in July. Goods inflation is also set to benefit from slightly higher unprocessed food prices, though it is still set to remain close to 1%, well below the 1.4% averaged in H1. Services inflation is instead set to remain stable at around 1.2%, modestly softer compared to the 1.5% averaged in the previous 18 months.

As expressed at its last monetary policy meeting, the ECB is rather unease with the persistently below target realized inflation and is preparing to introduce further easing measures at its September meeting.


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