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Eurozone Preliminary Inflation surges 8.9% YoY in July

Adel 29 July, 2022 1:32 pm Forex Market, Market Update

The annualized Eurozone Harmonised Index of Consumer Prices (HICP) accelerated by 8.9% in July vs. June’s 8.6%, the latest data published by Eurostat showed on Friday. The market consensus was for an 8.6% figure.

The core figures rose to 4.0% YoY in July when compared to 3.8% expectations and 3.7% booked in June.

The Euro area figures are reported a day after Germany’s annual inflation for July, which unexpectedly rose to 8.5% while missing expectations of 8.1% following an 8.2% increase reported in June.

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