EUR: Inflation momentum watched as energy shocks build – Danske Bank
|Danske Research Team expects Euro area headline inflation to rise to 1.8% year-on-year in February, with core inflation steady at 2.2%. National data were mixed, but services inflation momentum appears to have picked up after a tax-driven dip in January. The bank anticipates services inflation dynamics similar to late last year.
Euro area data focus on inflation
"In the euro area, flash February inflation is released today. We expect headline inflation to rise to 1.8% y/y and core inflation to remain at 2.2%.
"Inflation in France and Spain came in higher than expected while Germany was below expectations."
"The momentum in services inflation picked up again in February after a very low January print which was due to lower taxes."
"So, we expect momentum in services inflation to be similar to November and December."
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