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The flash estimate for eurozone August HICP came in at 1.6% yoy (slowing from 1.7% in July), in line with our and consensus forecast. The final reading will be published on September 15, and we see risks tilted towards a downward revision of the preliminary estimate.
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We confirm our view that the whole inflation slowdown last month should have been energy-driven, while food inflation likely posted a further moderate acceleration in yoy terms and core inflation held steady at 1%.
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Our preliminary forecast for September sees eurozone inflation accelerating vs. August. The most likely outcome is 1.7-1.8%.
Euro Inflation Update
The most likely outcome is 1.7-1.8%
Fri, Sep 3 2010, 10:16 GMT
by
UniCredit Research
- UniCredit Group
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