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CPI Eurozone (YoY) Report 16 Oct 2019


Inflation was growing nicely during most of last year, but by the end of it, the CPI inflation cooled off, with the main CPI figure declining from 2.2% to 2.0% in November and again to 1.6% in December, missing expectations of 1.8%, while the core CPI figure remained unchanged at 1.1%. Inflation fell further to 1.4% in Europe in December and it remained unchanged at 1.4% in January, as well as core CPI at 1.1%. 

Although, core CPI cooled off further to 1.0% in February while the headline CPI ticked higher to 1.5%. In March, headline inflation ticked lower again to 1.4% but what's worse is that core inflation declined to 0.8% from 1.0%. In April we saw a jump to 1.7% for the headline CPI and 1.2% for core CPI. But, that was due to the Easter period, and inflation dived further to 1.2% in May and 0.8% for core CPI. In June, the headline CPI remained unchanged, but core CPI moved higher to 1.1% in the initial reading and they are expected to remain at those levels for the final reading. For July, inflation numbers were expected to remain unchanged but headline CPI fell to 1.1% again which was revised to 1.0% this week, while core CPI fell to 0.9%. Core CPI is expected to tick higher to 1.0% this month. In September, headline and core CPI changed places, with core CPI ticking higher to 1.0% and headline CPI ticking lower to 0.9%. Please follow us for real-time coverage of this event by experienced analysts. 

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