Flash CPI inflation reading for May for the whole euro area was released today at 10:00 am BST. Report was expected to show a small acceleration to 2.5% YoY in the headline measure as well as core measure staying unchanged at 2.7% YoY. Data from member states released earlier this week was inconclusive - Spanish CPI accelerated less than expected, German CPI accelerated in-line with expectations, while French CPI unexpectedly stayed unchanged instead of accelerating.
Actual data for the whole euro area surprised to the upside - headline CPI accelerated from 2.4 to 2.6% YoY, while core inflation measure accelerated from 2.7 to 2.9% YoY. Data is unlikely to have an impact on next week's ECB decision, which is almost certain to result in a rate cut. However, it may impact outlook for the next meetings and encourage Fed to proceed slowly with further cuts.
إبدأ بالإستثمار اليوم أو تدرّب على حساب تجريبي
إنشاء حساب حساب تجريبي تحميل تطبيق الجوال تحميل تطبيق الجوالEUR gained following the release and reach a fresh daily high above 1.0840.
Euro area, CPI inflation for May
- Headline: 2.6% YoY vs 2.5% YoY expected (2.4% YoY previously)
- Core: 2.9% YoY vs 2.7% YoY expected (2.7% YoY previously)
EURUSD jumped to fresh daily high above 1.0840 following European inflation data and is testing 200-hour moving average. Source: xStation5
