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In June, German inflation surged, as Thursday’s regional data suggested. The report pointed to a sturdy upswing in the German economy, driving price pressures as euro zone inflation gets closer to the ECB’s objective.
The data arose just days after ECB head Mario Draghi suggested that the bank's asset-purchase program would turn to be less accommodative in 2018 because regional surge pace as well as inflation trends get back, following a period of descending prices.
In another sign of ascending price pressures in the 19-member trading bloc, in Spain consumer prices inched up more than expected in June, as preliminary figures disclosed on Thursday.
In June annual inflation inched up to 1.9%in June from 1.7% in May in the German state of Hesse, as the data revealed. It also gained in Brandenburg, Saxony and Baden-Wuerttemberg. Meanwhile, it stood still in Bavaria and North Rhine-Westphalia.
A Reuters survey, conducted before the publication of the regional data stated that EU-harmonized consumer price inflation went down to 1.3% in June from May’s outcome of 1.4%.
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
On April 22, 2022, from 10:15 to 11:00 MT time, the Markit will release German and French flash services and manufacturing PMI.
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
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