Eurozone: HICP likely to print 2.1% for July – Danske Bank

Sandeep Kanihama FXStreet Contributor

In the euro area, the important July HICP and GDP figures are due to be released, after headline inflation surged from 1.1% y/y in February to 2.0% y/y in June, points out the research team at Danske Bank.

Key Quotes

“We estimate the July figure at 2.1%. However, the rise has been driven mainly by energy prices, leaving core inflation hovering around 0.9-1.1% y/y in the period from February to June. In July, we expect core inflation to have risen to 1.1%.”

“After a strong 2017, growth in Q1 18 moderated to 0.4% q/q. We expect a continued soft landing as indicated by recent activity indicators. Q2 18 PMI suggests growth remains around 0.4% q/q.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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