Eurozone CPI down in June, but remains above deflation territory

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Tuesday, Jun 30 2015

Euro area annual inflation is expected to be 0.2% in June 2015, down from 0.3% in May 2015, in line with market expectations. Looking at the main components of euro area inflation, food, alcohol & tobacco is expected to have the highest annual rate in June (1.2%, stable compared with May), followed by services (1.0%, compared with 1.3% in May), non-energy industrial goods (0.4%, compared with 0.2% in May) and energy (-5.1%, compared with -4.8% in May).

The euro area seasonally-adjusted unemployment rate was 11.1% in May 2015, stable compared with April 2015, and down from 11.6% in May 2014. This was also in line with market forecasts. This is the lowest rate recorded in the euro area since March 2012. The EU28 unemployment rate was 9.6% in May 2015, also stable compared with April 2015 and down from 10.3% in May 2014. This is the lowest rate recorded in the EU28 since July 2011.

Data did not have any major impact on the euro, which is currently being traded few points above 1.1180 level. Pair is likely to find support around 1.1160 area and resistance near 1.1250 level. Later today, German Unemployment Change as well as Eurozone CPI and Unemployment Rate figures are scheduled for a release.

More in this category: « UK Current Account deficit narrowed less than expected US Consumer confidence strengthen in June »

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