Market updates on July 16
Welcome to Tuesday!
December euro zone inflation meets expectations
In December, euro zone inflation went down. The given outcome was in line with market participants’ hopes. That’s what investors learned from an update published by Eurostat on Friday.
As the European Union's statistics office informed, in December the consumer price index tacked on at an annual rate of 1.4% versus November’s outcome of 1.5%.
The rates turned to be in line with hopes, although below the ECB target inflation rate of 2%, underpinning the key bank’s approach to gradually lifting interest rates.
Meanwhile, in December, inflation inched up by 0.4% month-over-month versus November’s result of 0.1%.
Core inflation, excluding food and energy prices and is closely watched by the European Central Bank, tacked on by an annualized 0.9%, demonstrating the same outcome as last month.
After the report, the currency pair EUR/USD showed a result of 1.2243 versus the previous reading of 1.2236.
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