The Euro Area Faces Inflation At 0.1% Mom in July, Dwindles Sharply From 0.8%

Eurozone Inflation

According to Eurostat’s final reading of the Eurozone Harmonized Index of Consumer Prices (HICP) Report for the month of July, the Euro area’s Inflation soared 8.9% last month on an annualized basis. The unfortunate inflation surprisingly meets the trader’s speculation.

The reading of the HICP in the blocs matched expectations of 8.9% while against the 8.9% previous. Core figures rose by 4.0%, meeting the 4.0% market estimates and 4.0% last.       

The bloc’s HICP rose by 0.1% versus 0.8% expected and 0.8% first estimate while the core HICP numbers came in at -0.2% versus -0.2% expected and -0.2% previous.

EUR/USD holds the rebound towards 1.0200 on the mixed Eurozone data.

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