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Germany final HICP inflation is unlikely to show any changes from its flash estimate. The final HICP inflation is expected to come in at 0.2 percent year-on-year, noted Societe General, confirming the flash estimate. The German national CPI is also expected to be confirmed at 0.3 percent year-on-year, added Societe Generale.
The flash estimate had showed that the energy component, in the headline CPI, came in weak at -6.4 percent year-on-year, as compared with -7.9 percent year-on-year in May. Meanwhile, the food prices rebounded slightly to 0.1 percent year-on-year following weak prints in the earlier two months.
According to Destatis press release, the core CPI inflation continued to be stable at 1.3 percent year-on-year as acceleration in services inflation of 1.4 percent y/y was countered by lower non-energy industrial goods prices.
Meanwhile, the final HICP inflation for France is also likely to have remained unchanged from the flash estimate of 0.3 percent year-on-year in June, according to Societe Generale. This is the highest rate since January 2016.
Moreover, the national CPI measure is expected to be confirmed too at 0.2 percent year-on-year. The year-on-year rise is due to rebounding petroleum products’ prices, the fourth straight rise.
According to the flash estimate, energy component came in an -3.1 percent year-on-year in June, lesser annual decline from -5.7 percent year-on-year in May. Food prices, which were impacted by the seasonal drop in fresh foodstuffs’ prices, rise 0.6 percent year-on-year.
Amongst other components, services inflation remained steady at 1 percent year-on-year, whereas manufactured products prices rebounded two ticks to -0.4 percent year-on-year.
