Eurozone: Inflation and unemployment figures in focus – RBC CM
|Research Team at RBC Capital Markets, suggests that in today’s session focus will be on the release of Euro area unemployment and inflation figures.
Key Quotes
“Euro area unemployment: The rate of decline in euro area unemployment has moderated in recent months although the overall trend is still downward. As a result we see the unemployment rate remaining unchanged in August at 10.1% which would represent a fifth consecutive month of no change.
Euro area ‘flash HICP’: The effects of previous energy price falls begin to drop out of the HICP index in coming months so headline inflation will begin to pick up as a result. The drag from the two main impacted categories of the inflation basket (transport and home heating) has already begun to ease and that process should accelerate into the first half of next year. As a result, we see September’s HICP printing at 0.4% y/y but with core inflation remaining unchanged at 0.8%.”
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