ANALYSIS:Eurozone final CPI rises at 1.3% y/y in June, beats estimates

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Eurozone final CPI rises at 1.3% y/y in June, beats estimates

According to Eurostat’s final reading of the Eurozone CPI report, the consumer prices came in at 1.3% on a yearly basis, bettering the flash estimate of 1.2%. While the core figures rose 1.1% versus 0.8% previous.

On a monthly basis, the bloc’s CPI figure for June rose 0.2% versus 0.1% expectations and 0.1% previous. while the core CPI numbers arrived at 0.4% versus 0.3% expected and 0.3% last.

Key Details (via Eurostat):

“The lowest annual rates were registered in Greece (0.2%), Cyprus (0.3%), Denmark and Croatia (both 0.5%). The highest annual rates were recorded in Romania (3.9%), Hungary (3.4%) and Latvia (3.1%). Compared with May, annual inflation fell in seventeen Member States, remained stable in one and rose in nine.

In June, the highest contribution to the annual euro area inflation rate came from services (+0.73 percentage points, pp), followed by food, alcohol & tobacco (+0.30 pp), energy (+0.17 pp) and non-energy industrial goods (+0.07 pp).”

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