The post Eurozone Preliminary HICP inflation falls to 2.5% YoY in June, as expected appeared on BitcoinEthereumNews.com.

The Eurozone Harmonized Index of Consumer Prices (HICP) rose 2.5% in the year through June, a tad slower than a 2.6% growth registered in May, the official data released by Eurostat showed Tuesday. The market forecast was for a 2.5% increase in the reported period. The Core HICP advanced 2.9% YoY in the same period, at the same pace as seen in May while coming in above the estimated 2.8% print. On a monthly basis, the bloc’s HICP rose 0.2% in June vs. a 0.2% increase in May. The core HICP inflation came in at 0.3% MoM in the same period, compared with a 0.4% growth seen previously. The European Central Bank’s (ECB) inflation target is 2.0%. The old continent’s HICP inflation data have a significant impact on the market’s pricing of the ECB’s second interest rate cut. Key details from the Eurozone inflation report (via Eurostat) “Looking at the main components of euro area inflation, services is expected to have the highest annual rate in June (4.1%, stable compared with May), followed by food, alcohol & tobacco (2.5%, compared with 2.6% in May), non-energy industrial goods (0.7%, stable compared with May) and energy (0.2%, compared with 0.3% in May).” EUR/USD reaction to the Eurozone inflation report The Euro remains unfazed by the mixed Eurozone inflation data. EUR/USD is trading 0.18% lower on the day at 1.0171, as of writing. (This story was corrected on Tuesday at 9:09 GMT to say that “the Eurozone Harmonized Index of Consumer Prices (HICP) rose 2.5% in the year through June, a tad slower than a 2.6% growth registered in May,”not higher than) Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Canadian Dollar.   USD EUR GBP JPY CAD AUD NZD CHF USD   0.21% 0.15% 0.08% -0.04%…

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Filed under: News - @ July 2, 2024 11:12 am