- Eurozone inflation arrives at 2.2% YoY in July.
- Monthly CPI in the bloc drops by 0.1% in July.
- EUR/USD remains unfazed around 1.1720 on the EZ data.
According to Eurostat’s final reading of the Eurozone CPI report for July, the consumer prices came in at 2.2% on a yearly basis, meeting the flash estimate of 2.2% and 2.2% expectations. While the core figures rose by 0.7%, beating the 0.7% consensus forecasts.
On a monthly basis, the bloc’s CPI figure for July arrived at -0.1% versus -0.1% expectations and 0.3% previous while the core CPI numbers came in at -0.4% versus -0.4% expected and -0.4% last.
Key details (via Eurostat):
“The lowest annual rates were registered in Malta (0.3%), Greece (0.7%) and Italy (1.0%). The highest annual rates were recorded in Estonia (4.9%), Poland and Hungary (both 4.7%). Compared with June, annual inflation fell in nine Member States, remained stable in two and rose in sixteen.”
“In July, the highest contribution to the annual euro area inflation rate came from energy (+1.34 percentage points, pp), followed by food, alcohol & tobacco (+0.35 pp), services (+0.31 pp) and non-energy industrial goods (+0.17 pp).”
EUR/USD is holding up its recovery around 1.1720, having found some support just above 1.1700, fresh 2021 lows. The pair adds 0.10% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.