After this week’s hawkish central banker whirlwind, traders and analysts were keenly looking forward to today’s Eurozone June inflation print to see if it would validate Draghi’s unexpected hawkish pivot; the data was released on Friday morning by Eurostat, and while dropping from May’s 1.4% headline print to 1.3%, it beat the 1.2% consensus expectations, rising 1.3%. The core print of 1.1% excl. energy, food, alcohol and tobacco likewise beat estimates of 1.0%, and was above May’s 0.9%.
Looking at the main headline components, energy posted a sharp decline, rising at 1.9%, compared with 4.5% in May, followed by services (1.6%, compared with 1.3% in May), food, alcohol & tobacco, 1.4%, compared with 1.5% in May, while non-energy industrial goods rose 0.4%, compared with 0.3% in May.
This post was published at Zero Hedge on Jun 30, 2017.
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