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Eurozone inflation quickens as HICP rises to 2.9% in July

Core Eurozone HICP rose to 2.5% year on year, while the monthly core reading was flat, and EUR/USD slipped to about 1.1517 after the release.

Reported · Written up by our desk · Major Pairs

Eurozone flash inflation data showed the Harmonized Index of Consumer Prices rising at a faster annual pace in July, with HICP up 2.9% year on year, versus 2.8% in June, according to FXStreet, as expected.

On a monthly basis, headline HICP increased 0.2% after declining 0.1% in June. The report also said core inflation, which excludes volatile components like food, energy, alcohol, and tobacco, rose to 2.5% year on year, compared with an expected 2.4%, while month to month core HICP was flat after a 0.2% rise.

FXStreet noted an initial slightly negative market reaction for the euro following the data, with EUR/USD trading about 0.1% lower at roughly 1.1517.

Latest closeEUR/USD 1.122 ▼0.3%

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