Prior +2.6%Core CPI +2.9% vs +2.8% y/y expectedPrior +2.9%
Lane tried to play the report down earlier here. But the details certainly isn’t too encouraging for the ECB. Headline annual inflation eased to 2.5% as expected but core annual inflation remains stubborn at 2.9%, unchanged from May. That owes much to services inflation, which remains high at 4.1%.
This article was written by Justin Low at www.forexlive.com.
