Inflation in France and Spain rises faster than Germany, keeping pressure on the ECB ahead of September meeting
🇪🇺 August data showed HICP inflation rising to 2.7% in France and 4.5% in Spain, while Germany edged up to 2.9%, below market expectations.
🔥 Spain stood out as the hottest market, with CPI reaching 4.3%, its highest level since February 2023. However, much of the increase came from energy and base effects, while core inflation eased slightly to 2.9%.
⚡ France was also heavily affected by energy, with prices in the category up 16.7% year-on-year, while services did not accelerate and industrial goods remained in deflation. Germany also saw stronger energy inflation, but its overall reading was comparatively softer.
🏦 The data keeps expectations for a hawkish ECB stance elevated ahead of the September 10 meeting, although divergence across major eurozone economies means the policy outlook still depends heavily on the bloc-wide HICP reading.
#ECB
$BTC
🇪🇺 August data showed HICP inflation rising to 2.7% in France and 4.5% in Spain, while Germany edged up to 2.9%, below market expectations.
🔥 Spain stood out as the hottest market, with CPI reaching 4.3%, its highest level since February 2023. However, much of the increase came from energy and base effects, while core inflation eased slightly to 2.9%.
⚡ France was also heavily affected by energy, with prices in the category up 16.7% year-on-year, while services did not accelerate and industrial goods remained in deflation. Germany also saw stronger energy inflation, but its overall reading was comparatively softer.
🏦 The data keeps expectations for a hawkish ECB stance elevated ahead of the September 10 meeting, although divergence across major eurozone economies means the policy outlook still depends heavily on the bloc-wide HICP reading.
#ECB
$BTC
